PARIS Feb 10 Four European power exchanges have
agreed to develop an intra-day market for electricity, which
will be better able to balance price swings caused by
intermittent solar and wind energy than the current day-head
Wind and solar energy output can swing strongly on an hourly
basis, which makes cross-border flows hard to coordinate. The
European Commission has been keen on developing intraday trading
to ensure larger portions of renewables output can be integrated
into Europe's wholesale power market.
The Paris-based European Power Exchange (EPEX), which
operates the power spot markets for Germany, France, Austria and
Switzerland, said on Monday it had signed a cooperation
agreement for cross-border intraday trading with exchanges in
the Benelux, UK, Scandinavia and Iberia.
This would create an intraday market stretching from
Stockholm to Madrid.
The other exchanges are APX and its unit Belpex, which
operate power markets in the Netherlands, the United Kingdom and
Belgium; Nord Pool Spot, which operates power markets in the
Nordic and Baltic region; and OMIE, which operates Iberian spot
EPEX said the common technical system will be based on
continuous cross-border trading, where intraday adjustments to
trades concluded in the day-ahead market can be made.
It gave no cost estimate or timeframe for the start of the
project, which has been under discussion for months.
European Transmission System Operators - which operate
Europe's high-voltage power grids - will also cooperate, while
Deutsche Boerse AG will deliver a technical system,
(Reporting by Geert De Clercq and Nina Chestney; Editing by