FARCROSS: Accelerated development and introduction of advanced technical and market solutions within the H2020 programme
Project duration: 1st of October 2019 – 30th of September 2023
EU energy policies have a key objective to entirely unify the European power markets with harmonised rules, common trading platforms and transparent market-based incentives in order to increase competition and maintain a secure and sustainable source to cover consumer’s needs.
FARCROSS („FAcilitating Regional CROSS-Border Electricity Transmission through Innovation”, Grant Agreement No 864274) aims to offer state-of-the-art software solutions that will increase cross-border capacity and so the potential of cross-border trading of energy and balancing capacity.
The consortium consists of 31 partners, including TSOs, DSOs, market operators, service providers and energy generators.
1. Figure: Participants in FARCROSS
FARCROSS delivers 3 innovative demonstration platforms. HUPX, as the expert of organised electricity markets participates in DEMO C, which aims to enhance capacity allocation to cross border-trading and delivers a new co-optimised capacity auction algorithm with a complete market design (OPTIM-CAP DEMO).
The new trading platform will provide a new opportunity to jointly submit energy and capacity bids. Co-optimised trade of these products will result in the harmonisation of market prices on two different markets (balancing capacity and energy) in line with the expectations of EU (ACER Decision 12/2020).
2. Figure: Scope of Demonstrations in FARCROSS
According to the current status of the project work, the cross-border capacity auction algorithm is under development, embracing co-optimised cross-border capacity that has been encouraged for years from ENTSO-E experts. The start of the demonstration is expected in Q4 2021.
During the product development procedure HUPX will provide market expertise in line with the existing market conditions and supply data to align the new market platform to current practices and the expectations of EU. Furthermore, HUPX will perform the overall IT hosting for the demonstration as a service provider.
For more information, please visit: https://farcross.eu/
Webinar is available here:
FARCROSS Webinar Innovative solutions for increased regional cross-border cooperation a complete success - FARCROSS