Eleven nominated electricity market operators (Nemos) have confirmed their "readiness and commitment" to proceed with a 15-minute settlement in the single day-ahead coupling (SDAC) market on 11 June, according to a statement given to Argus.
The co-signing Nemos — Oslo-based Nord Pool, Czech OTE, Austrian EXAA, Greek Enex, Italy's GME, Spain's Omie, Bulgarian Ibex, Poland's TGE, Slovakian Okte, Croatia's Cropex and Romanian BRM — confirmed that they "do not share the misgivings" about the 15-minute settlement transition expressed by European power exchange Epex Spot earlier this month, the Nemos told Argus.
Nord Pool previously told Argus on 17 April that it was "confident and ready" to deliver 15-minute trading.
The market operators do "not recognise" the problems cited by Epex and are sure that the "necessary infrastructure and processes" are in place to implement the move on time successfully. Instead, the co-signed Nemos stressed that the transition is a "pivotal advancement" and any delay risks "hinder[ing] progress" towards a better-integrated market.
Specifically, the signatories clarified that the decoupling registered in some tests and cited by Epex Spot was not "due to a lack of reliability" in the system. Instead, they attributed this to "internal local testing issues of certain parties in the initial [testing] stage". The Nemos added that all performance tests of the central matching algorithm (Euphemia) were "successfully completed and validated by all parties, including Epex Spot".
The co-signed Nemos noted that most test scenarios, "both functional and procedural", were "successfully completed and validated", adding that any reference to the implicit intraday auction (IDA) decoupling scenario is "misleading and inappropriate" as these were "caused by local issues" and the "time allocated to IDA executions" is less than 25pc of the "overall time available for SDAC".
