Products of various delivery periods depending on the segment on which they are offered are traded on the power exchange market for electricity. The power exchange market operator administrates two market segments on which short-term products are traded- with delivery period of fifteen minutes and one hour (Intraday and Day-ahead) and one market segment where long-term products are traded- delivery period from one weekend to one year (Bilateral contracts). All products traded are standardized and are listed in the Instruction №6 Traded Products Specification.
The Intraday market segment, Continuous trading mechanism, offers products with a delivery period of 15 and 60 minutes. Block products, the delivery of which comprises two or more consecutive intervals, is only possible for products with 60-minute resolution. The segment operates 365/366 days a year via the continuous trading mechanism. The minimum offer price is -9999 €/MWh, and the maximum one is 9999 €/MWh. The Intraday market segment has been operating in the conditions of a market coupling (Single Intraday Coupling) since 19th November 2019.
The Intraday market segment, Intraday auctions mechanism, offers products with 15-minute delivery period as well as block products, the delivery of which comprises two or more consecutive 15-minute intervals. The minimum offer price is -9999 €/MWh and the maximum one is 9999 €/MWh. The mechanism operates 365/366 days a year and trading takes place via three auction sessions for each delivery day.
The Day-ahead market segment offers products with a delivery period of 15 and 60 minutes, as well as block products, the delivery of which comprises one or more consecutive intervals. The segment operates 365/366 days a year via daily auction sessions. All periods for holding the auction sessions as well as the publication of results related to trading on the segment are in accordance with the requirements of the Single Day-ahead Coupling. The minimum offer price is -500 €/MWh and the maximum one is 4000 €/MWh.
Trading on Bilateral contracts market segment is carried out via Auctions and Auctions- End supplier mechanisms. Trades are concluded via auction sessions initiated in accordance with Instruction № 2 Auction initiation. Auctions mechanism offers long-term standardized products with a delivery period from one calendar weekend up to one year inclusive. Auctions- End supplier mechanism offers long-term standardized products with delivery period of one calendar month, three consecutive calendar months, six consecutive calendar months and twelve consecutive calendar months. The products on this mechanism have an additional parameter- deviation which may vary from 0% to 70%.
The load profiles offered for trading are baseload (24 hours), peak (8 hours), peak (12 hours), peak (16 hours), two evening peak profiles (5 hours) and off-peak (12 hours). The load profile that can be traded for the products with deviation is only baseload.