XBID go-live preparation
XBID (Cross Border Intraday) project
After the approval of the Third Energy Package, and with the higher percentages of the renewable electricity production, the introduction of Intraday Market Coupling became more urgent. To decrease the balancing energy consumption it is important to provide solutions for traders to trade electricity as close to real time as possible. In June 2014, six power exchanges (APX, BELPEX, EPEX SPOT, GME, Nord Pool, OMIE) agreed to establish the Intraday Market Coupling to which relevant TSOs joined later. This cooperation became known as XBID (Cross Border Intraday). After the approval of the MCO Plan, the XBID project was recognized as the European target model of the Single Intraday Coupling (SIDC). According to the model, all NEMOs need to take part in this cooperation.
There were two waves to go live with the XBID project. HUPX is was part of the second wave as in the first wave only the founder parties participated.
The members of XBID established an Accession Stream working group, which every non-XBID member country may eventually joined, in order to prepare for implementation of the market coupling. HUPX participated in this working group to comply with the EU requirements (implementation of the CACM requirements). Besides this, HUPX has also established a Local Implementation Project (LIP 15) -which is necessary to go live- in co-operation with the German, Austrian, Czech, Romanian, Slovenian and Croatian NEMOs and TSOs.
HUPX went live with XBID on 19th November 2019 which resulted higher liquidity on the Hungarian intraday market.
XBID solution provides a continuous trading solution. Orders are matched in a centralised order book, the Shared Order Book (SOB), based on the capacities provided by TSOs. Capacities are allocated implicitly on the borders of Hungary in accordance with the decision of the Hungarian NRA. Orders will be transformed from the local order book to the SOB automatically.
For more information please go to NEMO Committee homepage: http://www.nemo-committee.eu/sidc
High level architecture is visible here: