Croatia: CROPEX to launch intraday market

, SEE Energy News

Croatian electricity exchange CROPEX and Nord Pool have announced the signing of an agreement to create the first competitive Croatian intraday market.

The launch of a continuous market is a necessary precondition for Croatia’s participation in XBID, the European cross-border intraday coupling project. According to the agreed project timetable, the Croatian intraday market is planned to become operational in the first quarter of 2017, while the exact date will be announced later.

CEO of CROPEX, Silvio Brkic said that following the successful launch of Croatian day-ahead market in February 2016 and consistent work to create a fully liberalized and transparent Croatian power market, the company is proud to announce the launch of intraday market. This offers, among other benefits for current and new CROPEX members, the crucial step of accommodation and continuous trading of significant intermittent renewable production offered to the Croatian power market. That will create a market framework for the integration of intraday market for the first quarter of 2017, Brkic concluded.

CROPEX was launched on 11 February 2016 in cooperation with Nord Pool, Europe’s leading electricity exchange, and is co-owned by the Croatian electricity transmission system operator (HOPS) and the Croatian electricity market operator (HROTE). In the first month of its operation, CROPEX recorded a total trading volume of 15,679.3 MWh, with the average base and peak prices at 23.62 euros/MWh and 27.58 euros/MWh respectively.