Special cases for day-ahead auction
For the day-ahead auction there may be different circumstances causing delay for price and result publishing or reopening of bid submission.
- Curtailment (Maximum/minimum prices reached)
- Price thresholds
Curtailment (Maximum/minimum prices reached)
In order to settle the price at balance between demand and supply in an area with over supply it is necessary to curtail the sales bids so that the supply curve intersects with the demand curve at minimum price – currently € -500.
In order to settle the price at balance between demand and supply in an area with under supply it is necessary to curtail the purchase bids so that the demand curve intersects with the supply curve at maximum price – currently € 3000.
The total curtailment in a price area is divided among the affected members pro rata based on their wish for sale or purchase at minimum or maximum price (respectively).
For the UK region there exist upper and lower price thresholds in addition to the maximum and minimum prices. If the thresholds are exceeded it will trigger a second auction with a reopening of order submission for the UK market participants for 10 minutes. The members will be informed about the new time for order submission if this would occur. Currently the upper threshold is 1500 GBP and lower is set to -150 GBP. In case of a second auction, auction results will be delayed. A second auction will also be performed for UK market participants if a threshold is reached in the CWE region.
Decoupling of market areas from the multi-regional coupling (MRC)
If for some reasons any of the MRC areas is not able to be part of the multi-regional coupling process a decoupling of that market area may take place. In case of a decoupling, auction results will be delayed, reopening of order submission will take place and the affected capacities will no longer be included in the auction.