Intraday Market SK started successfully
On 1 April 2016 OKTE, a.s. successfully launched the operation of the platform for continuous Intraday electricity Market in Slovak area (hereinafter "IDM SK").
OKTE, a.s. is happy to announce that the IDM SK ran smoothly without any incidents during the first days and all processes work as planned.
Michal Cabala, Chairman of the Board of Directors and CEO of OKTE, a.s. says: "This success represents a first step of OKTE, a.s. towards creation of the single European intraday electricity market. Since 1 April 2016, we operate a solution which extends the possibilities in electricity trading as well as the OKTE´s services and brings benefits to Slovak market participants."
The project started in July 2015 with the aim to implement a local solutions for intraday market with regard to the requirements of CACM (Commission Regulation (EU) 2015/1222 of 24 July 2015 establishing a guideline on capacity allocation and congestion management). Both successful and unsuccessful trades on IDM SK are automatically reported to ACER with regard to REMIT requirements. Successful trades are registered in form of daily schedules directly to the Imbalance settlement system.
IDM SK allows short-term cross-border electricity market participants to improve their balancing possibilities, which should reduce requirements for remedial actions by the transmission system operator.