Unicorn Systems Participates in a New Solution to Interconnect European Day-Ahead Electricity Markets
Unicorn Systems participates in a new solution to interconnect European day-ahead electricity markets, developed by power exchanges APX, Belpex, EPEX SPOT, GME, Nord Pool Spot, OMIE and OTE, under the Price Coupling of Regions (PCR) Initiative.
The new solution to interconnect European day-ahead electricity markets allows the power exchanges to calculate electricity prices using the same method and at the same times, which is a revolutionary first step towards a common European electricity market.
With the new solution interconnecting the markets, European consumers will be able to use the European power grid more efficiently, facilitating converging of prices across the integrated electricity markets.
Power exchanges APX, Belpex, EPEX SPOT, GME, Nord Pool Spot, OMIE and OTE, working together under the Price Coupling of Regions Initiative, trade 75 % of European electricity consumption (i.e. more than 2000 TWh).
The PCR Matcher-Broker (PMB) application developed by Unicorn Systems and included in the new PCR solution, combines information from the participating European power exchanges into a decentralised Broker Cloud.
Prices and net transfers are determined by a common calculation method using the Euphemia algorithm based on order records and available transmission capacities for each region. With its decentralised architecture, PMB provides a high level of security.
The new solution interconnecting day-ahead electricity markets has been already deployed in both North-Western Europe and South-Western Europe and preparations for deployment in several other European regions are well under way.
“I am very happy we have successfully completed this momentous, demanding project, becoming one of the major builders of the solution to become the cornerstone of the electricity market coupling throughout Europe,”
says Jan Konrád, International Services Director, Unicorn Systems.
About Unicorn Systems
Unicorn Systems is a renowned European company providing the largest information systems and solutions in the area of information and communication technologies. We have focused on providing high added value and a competitive edge to our clients for many years.
We have been operating on the market since 1990 and since then we have created a series of high-end large-scale solutions that are extended and used among the most important companies in a variety of sectors. We have the best references from companies in banking, insurance, energy and utilities, telecommunications, manufacturing, trade and the government. Our customers are not only the largest companies but also market leaders. We have detailed knowledge of the entire spectrum of all business sectors. We understand the principles of their operation as well as comprehend the specific needs of our customers.
Our extensive team of systematically educated experts perfectly masters all current product lines, components, technology, and therefore we have essentially no technological restrictions. Even though we enforce a lot of revolutionary ideas in our work, the overall delivery of proven solutions are subject to fundamental criteria – quality, scope, term and budget.
About Price Coupling NWE
North-Western Europe (NWE) Price Coupling is a project initiated by the Transmission System Operators and Power Exchanges of the countries in North – Western Europe. The 17 partners of this project comprise APX, Belpex, EPEX SPOT and Nord Pool Spot from the Power Exchanges’ side; 50Hertz, Amprion, Creos, Elia, Energinet.dk, Fingrid, National Grid, RTE, Statnett, Svenska Kraftnät, Tennet B.V. (Netherlands), Tennet GmbH (Germany) and TransnetBW from the TSOs side.
This cooperation aims at establishing price coupling of the day – ahead wholesale electricity markets in this region, increasing the efficient allocation of interconnection capacities of the involved countries and optimising the overall social welfare. A single algorithm, calculating simultaneously the market prices, net positions and flows on interconnectors between market areas will be used, based on implicit auctions and facilitated through the Price Coupling of Regions solution.
About Price Coupling of Regions
Price Coupling of Regions (PCR) is the initiative of seven European Power Exchanges (APX, Belpex, EPEX SPOT, GME, Nord Pool Spot, OMIE and OTE), to develop a single price coupling solution to be used to calculate electricity prices across Europe, and allocate cross-border capacity on a day-ahead basis. This is crucial to achieve the overall EU target of a harmonised European electricity market. The integrated European electricity market is expected to increase liquidity, efficiency and social welfare. PCR is open to other European Power Exchanges wishing to join.
About Price Coupling SWE
South-Western Europe (SWE) Coupling Project is a joint project between the French, Spanish and Portuguese TSOs, RTE, REE, REN, and the Power Exchanges OMIE in Spain and Portugal and EPEX SPOT operating the French market. This project aims to define the pre-coupling, post coupling and exceptional situations processes that are necessary to allow the implementation of market coupling between NWE region and the Iberian day-ahead markets.
Source: Unicorn Systems
