Croatian Power Exchange (CROPEX) said it would introduce 15-minute products on the intraday market. The go-live is planned for January 2024.
It is a major milestone in CROPEX’s efforts to enhance market efficiency and provide more flexibility to market participants, the statement adds.
The new products will allow market participants to trade electricity contracts with a delivery period as short as 15 minutes, providing more granularity and responsiveness to real-time market dynamics, according to the announcement.
To support the introduction of 15-minute products, TSOs intend to implement an upgraded resolution on the Croatian-Slovenian and Croatian-Hungarian borders
CROPEX said the introduction of 15-minute products on the intraday market would be a response to the growing demand for shorter trading periods, enabling participants to react swiftly to market changes and optimize their power portfolio management.
To support the new platform, transmission system operators (TSOs) intend to implement an upgraded resolution on the Croatian-Slovenian and Croatian-Hungarian borders, the bourse’s operator revealed. It would ensure a seamless and efficient exchange of electricity across the two borders within the shorter trading period, the power exchange stressed.
Ante Mikulić, CEO of CROPEX, emphasized the importance of the introduction of shorter trading periods.
“The launch of 15-minute products on the intraday market represents a significant step forward for CROPEX and the entire energy industry. This innovation aligns with our commitment to creating a more dynamic and flexible marketplace, empowering participants with increased trading opportunities and risk management capabilities and answering to the needed infrastructure to enable green transition”, he said.