Orders’ typologization on european single day-ahead coupling

Abstract

The article analyzes existing types of orders for the electricity purchase and sale that can be used by electricity market participants on the European single day-ahead coupling, as well as their criteria and conditions. The analysis is relevant, since the Ukrainian side is developing a regulatory, economic, financial and organizational basis for joining, in particular, the Ukrainian spot market segments to the pan-European day-ahead market and the intraday market – market coupling. During the course of an article it was emphasized that the decision to determine the types of orders in the single day-ahead and intraday coupling process was approved by the Agency for the Cooperation of Energy Regulators. Organizers of day-ahead market trading – nominated electricity market operators submit a joint proposal concerning orders that can be taken into account in the single day-ahead coupling. It has determined that the list of orders consists of mandatory types of orders that must be created and maintained by the organizer of day-ahead market trading for their use by electricity market participants, and optional types of orders that are created and maintained by the organizer of day-ahead market trading for the energy system needs or in accordance with a local government body’s separate decision. The article analyzes the types of mandatory and optional orders, their characteristics and criteria for application by electricity market participants. The types optionality is addressed, which allows electricity market participants, both on the selling and purchasing sides, to conduct predictable and effective economic activities. The existing types of orders on the Ukrainian day-ahead market and the activity of their use by electricity market participants are analyzed. It was emphasized that the activity of the orders was influenced by the conditions of the electricity market during the COVID-19 pandemic and martial law. It has emphasized that Ukrainian entity responsible for organization of day-ahead market trading needs to implement technical and organizational measures to expand the list of proposed types of orders and update existing types of orders in the context of joining the Ukrainian spot segments to the pan-European day-ahead market and the intraday market – market coupling.