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EU Power Exchange May Replace Second Auction Procedure

POWER

European Exchange Council members are discussing the replacement of the Second Auction procedure with an improved Second calculation process, in order to minimise the risk of market decoupling, Epex Spot said in a statement.

  • “According to careful analysis by EPEX SPOT, the current Second Auction procedure is in need of change given the needs of today’s market. This is why we recommend to our trading members to support a replacement of the Second Auction procedure in all SDAC countries and rely on an improved Second Calculation process instead, at the latest when 15 minute contracts are introduced.” Jonas Törnquist, COO of Epex Spot said.
  • The improved mechanism would allow for a targeted correction of a timely signalled trading error directly in the order book, which prevents delays and minimises the risk of decoupling.
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