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The Austrian Transmission System Operator, Austrian Power Grid AG (APG), and the European Power Exchange EPEX SPOT SE have jointly launched an Intraday market in Austria on 16 October 2012 and connected it, via an open interface provided by APG, to the Franco-German Intraday markets. Physical and financial settlement of the new Austrian power contracts are provided by Europe’s central clearing house for energy, European Commodity Clearing AG (ECC).
The launch of the Austrian Intraday market in the control zone of APG constitutes an important milestone for implementing the Pan-European Intraday Target Model for continuous implicit Intraday trading, as described in the ACER Framework Guidelines on Capacity Allocation and Congestion Management. The Austrian Intraday market is henceforth connected to the French and German Intraday markets of EPEX SPOT: Market participants from the three countries will benefit from the pooled liquidity and more harmonized trading and operational rules. The existing mechanism for Austrian-German cross-border schedules nomination is not affected and remains available for all market participants.
In a subsequent step of the integration process of the Austrian Intraday market, the cross-border Intraday lead-times for trading between Austria, France and Germany will be further improved: APG and EPEX SPOT, together with other concerned parties, are working on a synchronization of the local and cross-border trading gate closure times on the Power Exchange, in order to enable cross-border trading closer to real-time. These improvements are scheduled for 2013 subject to successful testing of systems and regulatory approvals.
EPEX SPOT and APG have now set up the necessary infrastructure to ensure a smooth integration of the Austrian market into the Pan-European Intraday Target Solution, consisting of a Shared Order Book and a centralized Capacity Management Module.
