| Size |
The minimum volume increment is 0.1 MW. |
| Tick |
The minimum price increment is EUR 0.01 per MWh. |
| Underlying |
Electricity traded for delivery the following day in 24 hour intervals. Special case: A full 25 hour Excel template is needed when the clocks are set to winter time. Hour 3 and 3X can contain different values. When the time is switched to summer time the system automatically deletes the exceeding quantities for hour 3 (i.e. 2.00 am to 3.00 am). |
| Place of Delivery |
Deliveries are made within the Serbian transmission system managed by EMS. |
| Auction hours |
24 hrs per day starting forty five days before Delivery Day, 7 days a week, year-round, including statutory holidays. |
| Order Book closes |
Daily at 11:00 am. |
| Publication time |
The auction results are published as soon as they are available from 11:10. |
| Type of orders |
Individual hours: Orders contain up to 256 price/quantity combinations for each hour of the following day. Prices must be between 0.0 €/MWh and 4000 €/MWh. The 254 prices are not necessarily the same for each hour. A volume – whether positive, negative or nil – must be entered at the price limits. A price-inelastic order is sent by putting the same quantity at the price limits.
Blocks: Block orders are used to link several hours on an all-or-none basis, which means that either the bid is matched on all hours or it is entirely rejected. Block orders have a lower priority compared with single hourly orders. The quantity may be different for every hour of the block. A block order is executed for its full quantity only. A block order is executed or not by comparing its price with the volume-weighted average of the hourly market clearing.
Maximum hourly block order volume is 50 MW. |
