HUPX DAM Product specification

Product name

HUPX Hungarian Power Day-ahead Market Hour

Description

Short term physical Product of electricity power, delivered at the Hungarian Electricity Transmission System operated by TSO.

Basic quality of the underlying product

Electrical power transiting over the Hungarian Transmission System  managed by the Hungarian TSO, which defines the voltage, frequency, cosine φ (displacement factor) and cut-off frequencies, in compliance with the regulations of the Grid Code of the Hungarian Electricity System.

Physical Delivery

Delivery at any injection or withdrawal point on the Hungarian Transmission System.

Delivery procedure (Nomination)

Nomination by the Clearing House (on behalf of HUPX) and by the Balance Group Responsible of the HUPX Member to the TSO on the basis of the regulations of the TSO Commercial Code.

Clearing and Settlement

Trade information transmitted by HUPX to the Central Counterparty, ECC AG for Settlement and Delivery of the Contracts

Trading procedure

Daily Auction

Trading days

Year-round

Delivery unit

60 minutes

Listing day

21st July, 2010

Contract Name

YYYY-MM-DDTHH:MM:SSZ

indicates the exact delivery start and delivery end, in UTC time zone

Contract Short Name

HH-HH

indicates the hours when delivery starts and ends on a respective day visible in the trading system

Delivery Period

1 hour of the day

Hour 01: the period between midnight and 1:00 am

Hour 02: the period between 1:00 am and 2:00 am, and so on and so forth

Hour 24: the period between 11:00 pm and midnight

Lot size (quantity characteristic during Order submission, minimum quantity)

0.1 MW

Maximum quantity

Maximum quantity for Linear Order: 100,000 MW (technical limit)

Maximum quantity for Block Order: 400 MW

Minimum and maximum prices

-500.0 €/MWh / 4000.0 €/MWh

Tick size (price characteristic during Order submission)

Ten euro cent per MWh, 0.1 €/MWh

Results

Rounded market clearing price with 2 decimal digits

Gate Opening Time (GOT)

45 days before the Delivery Day

Gate Closure Time (GCT)

At 12:00 pm CET/CEST*, one day before the Delivery Day

*In case of a technical issue, the Gate Closure Time (GCT) can be postponed to 12:20 pm CET/CEST

Publication time of preliminary results

As soon as possible from 12:45 pm CET/CEST

Publication time of final results

As soon as possible from 12:57 pm CET/CEST

Market coupling

Flow based market coupling (Core project)

Launched on 8th of June, 2022  

Implicit Cross border allocation

On Austrian-Hungarian, Slovakian-Hungarian, Romanian-Hungarian , Croatian-Hungarian and Slovenian - Hungarian borders

Rollback

Possible in 6 weeks after the go-live of Flow based market coupling. In this case changes in Products List and Specification are also rolled back to the previous version

Second Auction

As soon as possible after Order Book closure / Second Auction Publication time: as soon as possible after the Second Auction closure

Second auction is triggered if one of the following cases happens during the price calculation for at least one hour:

1. there is not any intersection of the market supply curve and the market demand curve
2. the market price exceeds the threshold value: lower than -500 €/MWh or higher than 2400 €/MWh

Negative Prices

Negative prices are authorized where specified below (see minimum and maximum prices).

NB: When a contract is traded with a negative price, it is legally regarded as a supply of service (removal service) by the recipient of power to the delivering party and not anymore as a supply of goods by the party delivering the power.

Order types

a) Linear (individual hour) Order;

b) Block Order;

c) Physical delivery Order.

Minimum and Maximum numbers of price/quantity combinations for Single-Contracts orders

2 and 256

Definition

Order on one or several combined Contracts with a minimum of one Contract of the same Delivery Day. Expiries depend on each other in their execution.

Specific conditions

All-or None

The maximum number of Block Orders: 10

Smart blocks – linked

A Linked block group is a set of Block Orders which have together a linked execution constraint.

Maximum values of linked block groups:

• Number of generations: 7
• Number of children for a parent block: 6
• Number of parents for a child block: 1
• Size of a linked block group: 7
• Number of linked block groups per portfolio: 5

Smart blocks - exclusive

An Exclusive block group is a set of Block Orders within which a maximum of one Block Order can be executed. (Best conditions)

Maximum values of exclusive block groups:

• Number of blocks in an exclusive block group: 24
• Number of exclusive block groups per portfolio: 10

Definition

Special order type, what can be submitted only by market operator. It contains the physical delivery positions requested by the Member, based on its open positions derived from HUDEX Financial Power market segment. Submitted orders has to be accepted in the Trading System, by the Member.

Periods

Weekly and monthly