HUPX IDA Product specification
Planned go-live: Q2 2024
General information |
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|---|---|
| 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 |
| 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 |
| Minimum and maximum prices | -9999 €/MWh / 9999 €/MWh |
| Tick size (price characteristic during Order submission) | Ten euro cent per MWh, 0.1 €/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 + ~17,5 min at the latest |
| Publication time of final results | GCT + ~20 min at the latest |
| Market coupling | SIDC Auction Based |
| Implicit Cross border allocation | Austrian-Hungarian, Slovakian-Hungarian, , Croatian-Hungarian and Slovenian-Hungarian borders |
| Suspension of IDA (rollback) |
Possible in 1 weeks after the go-live of HUPX Intraday Auction Market. In this case HUPX Intraday Continuous Market shall be the only trading platform for Intraday Market Coupling and for the Cross-border allocation Details of the Suspension of IDA will be communicated in Market Notice(s) |
| 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 |
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| Minimum and Maximum numbers of price/quantity combinations for Single-Contracts orders | 2 and 256 |
Block Orders |
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| 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 |
| Smart blocks – linked | A Linked block group is a set of Block Orders which have together a linked execution constraint. |
| Loop block - linked |
A linked loop block group is a set of 2 classic profile blocks (1 sell and 1 buy block for instance) which have to be either jointly accepted or jointly rejected by the market. The blocks of the loop family will be executed with the same acceptance ratio. |
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.