Croatia: CROPEX launched intraday market

, SEE Energy News

The launch of the intraday market followed after a successful testing period in March and April 2017 with the future members of the intraday market and after the integration of new intraday business processes into the existing business model of CROPEX. On the first day of trading, total volume on intraday market amounted to 304 MWh.

Croatian power exchange CROPEX announced that it has successfully launched the first organized intraday trading in Croatia on 26 April 2017.

The total volume of concluded transactions consists of the traded volume of 70 MWh with the delivery of electricity on the same day, and 234 MWh with delivery on the following day, 27 April.

Director of CROPEX Silvio Brkic said on the occasion that the establishment of the intraday market represents a major step towards further liberalization and improvement of the functioning of the Croatian power market, and has met all the basic legal prerequisites in accordance with the EU CACM Regulation for the implementation of crossborder market coupling of the CROPEX intraday market with neighboring EU intraday markets. At the same time, the beginning of Intraday trading has significantly improved the preconditions for the expected full implementation of the market integration of the renewable energy by the EKO balance group leader in accordance with the applicable Croatian laws and regulations. The CROPEX Intraday market opens up the possibility of continuous electricity trading up to 30 minutes before the physical delivery of electricity to the Croatian power system, making the CROPEX Intraday market in line with the most advanced markets in Europe. The possibility of continuous trading, i.e. selling and buying of electricity close to its physical delivery is of particular importance for the efficient management of intermittent production from renewable energy sources with a view to reducing the costs of balancing energy and integration of market sales of produced electricity from renewable energy sources on the bilateral market and CROPEX markets.

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).