The European Power Exchange EPEX SPOT, together with its clearing house European Commodity Clearing (ECC), have successfully reduced the lead time on all intraday markets as of today. Trading now continues until 30 minutes before delivery in Germany, France and Austria. In Switzerland and across borders, trading will continue up to 60 minutes before delivery. In the past, lead time varied between 45 minutes and 75 minutes depending on the country and the cross-border gate closure time determined by the transmission system operators (TSOs).
Intraday lead time overview
| Trading | Lead time as of today | Former lead time |
|---|---|---|
| within Germany | 30 minutes | 45 minutes |
| within France | 30 minutes | 45 minutes |
| within Austria | 30 minutes | 75 minutes |
| within Switzerland | 60 minutes | 75 minutes |
| between Germany and France | 60 minutes | 60 minutes |
| between Germany and Austria | 60 minutes | 75 minutes |
| between Germany and Switzerland | 60 minutes | 75 minutes |
| between France and Switzerland | 60 minutes | 75 minutes |
“This is another milestone on our trail towards efficiency”, says Jean-François Conil-Lacoste, Chairman of the Management Board of EPEX SPOT. “Our customers benefit from trading closer to real-time – this is what the market wants and needs.”
“Together, ECC and EPEX SPOT have invested significantly in implementing technical improvements in order to enable the shorter lead time”, comments Dr. Thomas Siegl, CRO of ECC. “With this step, we have increased the flexibility for trading while improving at the same time our physical settlement processes.”
When the intraday markets for Germany (in 2006) and France (in 2007) were launched, lead time was 75 minutes, without the possibility for implicit cross-border trading. In 2010, the two intraday markets were connected. EPEX SPOT reduced the lead time by 30 minutes in the year after. In 2012 and 2013 respectively, EPEX SPOT launched the intraday markets in Austria and Switzerland.
