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SPOT ELECTRICITY MARKET

A

Processes

Day-Ahead Market participants submit their day-ahead market offers belonging to next day every day until 12:30 am via MMS system to Market Operator

  • Collaterals check is performed during 12:30 am-13:00 pm in order to determine eligible Day-Ahead Market offers.
  • Day-Ahead Market offers submitted to Market Operator are verified during 12:30 am-13:00 pm
  • Offers that are verified are assessed via optimization tool during 13:00 pm-13:30 pm; market clearing price and market clearing volumes are determined for every hour of the related day.
  • Commercial transaction approvals including approved sales-bid volumes are announced to relevant market participants every day at 13:30 pm. Market participants can object to these notifications in case of errors regarding to transactions during 13:30 pm-13:50 pm
  • Objections are evaluated during 13:50 pm-14:00 pm and relevant results are notified to market participants that made the objection. At 14:00 pm, finalized prices and matched volumes for 24 hours of next day are announced.
  • Market participants can submit their bilateral agreement notifications to MMS system during 00:00 am – 17:00 pm every day.
  • Processes mentioned about are daily practices for Day-Ahead Market and “Emergency” and “Additional” processes can be enacted by Market Operator due to technical failures sourced from MMS system. During operation of Emergency and Additional processes, market participants are informed through MMS system.

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