HUPX

Energy Business Motion

HUPX IDA Product specification

 

The current Intraday product list and specification is available on the link below: 

Product List and Specification - valid from 16.10.2024

General information

Product name HUPX Hungarian Power Intraday Auction Market Quarter 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 Intraday Auction (3 IDA auctions per delivery day)
Trading days Year-round
Delivery unit 15 minutes
Listing day 13.06.2024
Contract Short Name

HH:MM-HH:MM

indicates the hours when delivery starts and ends on a respective day visible in the trading system (time zone: CET/CEST)

Delivery Period

IDA 1:  D [00:00-24:00]

IDA 2:  D [00:00-24:00]

IDA 3:  D [12:00-24:00]

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 -9999 €/MWh / 9999 €/MWh
Tick size (price characteristic during Order submission) One euro cent per MWh, 0.01 €/MWh
Results Rounded market clearing price with 2 decimal digits
Gate Opening Time (GOT) 45 days before the Delivery Day
Gate Closure Time (GCT)

IDA 1:  D-1 15:00 (one day before the Delivery Day)

IDA 2:  D-1 22:00 (one day before the Delivery Day)

IDA 3:  D 10:00 (on the Delivery Day)

Publication time of preliminary results GCT + ~14,5 min at the earliest
Publication time of final results GCT + ~20 min at the latest
Market coupling SIDC Auction Based Launched 13.06.2024
Implicit Cross border allocation Austrian-Hungarian, Slovakian-Hungarian, , Croatian-Hungarian and Slovenian-Hungarian borders
Exceptional procedure In case of impossibility to perform HUPX Intraday Auction Market, the relevant Trading Session shall be cancelled and HUPX Intraday Continuous Market shall be the only trading platform for intraday Market Coupling.
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

Second Auction No
OTC registration No
Trade recall No

Linear Orders

Minimum and Maximum numbers of price/quantity combinations for Single-Contracts orders 2 and 256

Block Orders

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: 40 

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 - linked (loop)

Loop blocks are defined as a set of 2 classic profile Blocks (1 sell and 1 buy Block for instance) that are either both accepted, or both rejected.

Maximum values of linked loop block groups:

- Number of Block Orders in a linked loop Block group: 2

- Number of linked loop Block groups per portfolio: 3

- Maximum aggregated net volume of a linked loop Block group: 400 MW 

Loop 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 

ETS trading system

ETS Client

The existing ETS Client will enable members to trade and retrieve market results on IDA new auctions.

Format will not change. Configuration names (market area name, auction name) and sample files will be communicated at a later stage.

ETS API

For IDA API will be available. Webinars will be organised in 2024 to provide members with all required information for the go-live preparation.

Trading limits management

The existing trading limits for ETS will cover new IDA auctions. Members shall make sure that limits are sufficient for expected trading requirements.

Simulation environment and test sessions

Opening of the simulation environment, member test dates are planned for Q2 2024, subject to regulatory approval and successful testing. Further details for registration, connectivity and scenarios will be communicated at a later stage. Please note that there will be both coupled testing as well as testing in local mode so the members can get familiar with these new auctions.

Trading reports

The results of the new auctions will be published in reports currently available from the ETS client and the HUPX SFTP server. Reports for the IDAs will have the similar format as existing DAM reports.

Operational procedures

SIDC project parties will communicate in the coming months on all common operational procedures applying to these new pan-EU IDAs.