In September 2006, former APX introduced the Intraday Market for Dutch power after renewed interest in these products by the market parties. The Intraday Market is linked to all EPEX SPOT intraday markets and the Nord Pool Spot Elbas intraday market. The continuous market lists power in hourly products, as well as block orders.
Traders use the Intraday Market to optimise their position to reduce risks associated with unexpected imbalance prices charged by the TSO TenneT, while others see the Intraday Market as an important tool for their portfolio management. Especially in the early afternoons, EPEX sees brisk trading as traders fine-tune their positions after gate closure.
The new products have become part of the standard contract offerings on the Dutch power market, and are included in the fee structure so members do not have to subscribe separately to the continuous market.
The Intraday market offers EPEX Netherlands members the opportunity to continuously trade power products in hourly intervals as well as freely definably block orders up to 5 minutes prior to delivery.
The Intraday market is coupled to the EPEX SPOT Belgium (formerly Belpex) Continuous Intraday Market in Belgium and the Nord Pool Spot intraday markets in the Nordic region.
The minimum price of any Intraday market instrument is -9999.90 €/MWh; the maximum 9999.90 €/MWh.
The minimum and maximum price for Nord Pool Spot Intraday markets in the Nordic region are -99 999.90 €/MWh and 99 999.90 €/MWh respectively.
The Strips market offers members the opportunity to continuously trade standardised blocks of hours. The available products are: Base Load, Peak Load and Off Peak Load. These products can be traded as Individual Days and Weekends and are available for trading up to two (business) days out.[table "5" not found /]
The minimum price of any Strips market instrument is 0.01 €/MWh and the maximum 3000 €/MWh.
|New Year's Day||1 Jan|
|Good Friday||14 April|
|King's Day||27 April|
|Ascension Day||25 May|
During the above dates the Customer Service Desk is open from 9am to 3pm.
Any effect on traded products will be communicated separately to members.
Clearing & Settlement
ECC is the central counterparty to all trades; all contracts are traded anonymously, then cleared and settled on behalf of Members. Contracts on the exchange are fully collateralised, as all Members are required to lodge collateral in the form of Cash or Letter of Credit, in excess of outstanding exposures at all times.
All trades are notified to the Dutch Power grid operator TenneT BV on behalf of Members.