HUPX extends tradability of the fifteen-minute cross-border product in intraday continuous trading to the Hungarian-Romanian border
HUPX Hungarian Power Exchange Ltd. will extend the tradability of its 15-minute electricity market product to the Hungarian-Romanian border on February 10, 2021. Trades for the new border can be first carried out for the trading day of February 11. The development will greatly facilitate the scheduling of all balances, particularly in case of weather-dependent power generators.
Through reduced balancing energy costs and improved rates of return, the new product can encourage weather-dependent renewable energy producers to enter the system. In practice this means that in case of a discrepancy occurring in the preliminary production schedule of a solar park, it will be much more likely to be managed in an organized market, thus reducing the balancing energy needs and the costs financed by industrial consumers. In the case of a quarter-hour product, as in the case of a 60-minute product, there will be a one-hour, staggered closing, i.e. the possibility of concluding a trade for the given block will be closed one hour before the given quarter-hour.
Until now, only the 60-minute cross-border product has been available on the Hungarian-Romanian border for members of HUPX’s intraday market. The 15-minute product, available from February 10, will further enhance this resolution, which is expected to bring further liquidity increase for the Exchange.