Deutsche Börse to Develop Intraday Power Market Central Platform for XBID
Centralized platform to be part of European Commission initiative to create continuous European cross-border trading.
XBID is part of the European Commission's initiative to implement its energy market directives aimed at enabling continuous cross-border trading throughout Europe, allowing matching of all cross-border transmission capacities on the same day on a centralized pan-European platform.
Deutsche Börse reached an agreement with the European power exchanges involved in XBID-APX/Belpex, EPEX SPOT, GME, Nord Pool Spot and OMI to provide the central platform, sitting between the local trading systems of the power exchanges and the network operators. The scheduled launch is for 2017.
"The creation of a single integrated intraday market for energy is a crucial step towards a more efficient, sustainable use of available capacities across Europe," says Hauke Stars, executive board member of Deutsche Börse, responsible for the information technology and market data + services division. "Our technology is a solid foundation for the European cross border intraday solution."
"Without doubt this is a very challenging project and reaching this milestone is a significant step," says Mikael Lundin, CEO of Nord Pool Spot, and co-chair of the project. "The assurance that the regulators have given us provides a foundation for moving forward."
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