Developments in the intraday and day-ahead markets
The energy revolution will affect the existing market model, especially when transactions are executed close to the time of delivery. Market operators will have more opportunities to trade closer to the time of delivery, and trading is likely to shift towards a shorter cycle. In intraday trading, three auction rounds will take place alongside the existing continuous market to determine the value of cross-zonal transmission capacity when the network is congested.
At present, trading between bidding zones in the intraday market towards Europe ends one hour before the time of delivery – or half an hour before the time of delivery towards Estonia. In Finland, transactions can be executed within the bidding zone until the time of delivery.
Exchange trades will transition to a 15-minute trading period in phases following the introduction of a 15-minute imbalance settlement period. According to the current European timetable, the day-ahead market will switch to a 15-minute trading period in 2025.
After the introduction of the 15-minute imbalance settlement period on 22 May 2023, power exchanges can now offer 15-minute products in the intraday market in the Finnish bidding zone.
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