Day-Ahead Market
Trading Products
- 60 MINUTES
ORDER TYPES
1. Simple Orders
Simple Orders are composed of step segments, separately for each MTU of Delivery Day D. The specified curve is increasing for Sell Orders and decreasing for Buy Orders. A Simple Order consists of at least two and not more than 50 Price quantity pairs, where a “Price Quantity Pair” (“PQ pair”) specifies a price and a quantity of electricity for sale or purchase in a specified MTU. PQ pairs in a Simple Order are to represent a step-wise function of price and quantity of energy for sale or purchase in the specified MTU, with either an incremental or decremental quantity of energy specified at each price step.
2. PRIORITY PRICE TAKING ORDERS
Priority Price‐Taking Sell Orders are Simple Orders priced at the minimum accepted price in the Day-Ahead Market, i.e. at the Minimum Price of Day-Ahead Market. Priority Price‐Taking Buy Orders are Simple Orders priced at the maximum acceptance price in the Day-Ahead Market, i.e. at the Maximum Price of Day-Ahead Market
3. Block Orders
A Block Order consists of the following:
(a) a fixed price limit (minimum price for Sell Block Orders and maximum price for Buy Block Orders),
(b) an energy quantity for each of the MTUs included in the Block Order, and
(c) a Minimum Acceptance Ratio with regard to quantity of electricity for each MTU included in the Block Order
4. Linked Block Orders
A Linked Block Order consists of:
Individual Block Orders, with the attributes referred to in the Block Order, which are linked to each other by a parent-child relationship. A Child Block Order can only be accepted when the Parent Block Order, with which it is linked, is executed. Block Orders without linked child Block Orders are called Leaf Block Orders.
5. Exclusive Group of Block Orders
An Exclusive Group consists of a set of Block Orders, for which the sum of the accepted ratios cannot exceed the unit (1). In the specific case where the individual Block Orders have a Minimum Acceptance Ratio of 1, then at most one of the Block Orders can be accepted.