European Market Coupling news

European Market Coupling news

The pan-European Day-Ahead and Intraday Coupling projects SDAC and SIDC reached major milestones in 2021.

Day-Ahead Coupling one step closer to target model

In May 2021, Bulgaria was included into SDAC. Since then, IBEX, the designated NEMO in Bulgaria, is included in the Market Coupling operational processes, along with ESO, the Bulgarian TSO. As a consequence, Day-Ahead cross-zonal capacity between Greece and Bulgaria has been implicitly allocated via the Euphemia algorithm. The northern border between Romania and Bulgaria joined in October 2021. This price coupling mechanism allows for the simultaneous calculation of electricity prices and cross-border flows across the region. The efficient use of the power system and cross-border infrastructures, brought about by stronger coordination between energy markets, maximises social welfare to the benefit of all Europeans.

In combination with the go-live of the Interim Coupling project in June, the project parties have completed a major step towards the achievement of the European target model, which consists in a flow-based Market Coupling mechanism across all EU countries. More information on SDAC is available here.

Intraday Coupling brings benefits across the continent

In September 2021, the long awaited extension of the Intraday Coupling SIDC took place, with Italy joining the pan-European Coupling. This go-live is also referred to as “third wave”, as it follows the first wave of 2018 with 15 countries launching SIDC, and the second wave of 7 countries joining in 2019. Today, a total of 23 countries are coupled on the Intraday timeframe via XBID. The two remaining countries Greece and Slovakia are scheduled to join before the end of 2022. Then the geographical scope of the European target model for Intraday trading will be achieved. More information on SIDC is available here.

The EPEX trading community – an integral part of SIDC

Market Coupling increases trading opportunities for market participants, effectively leading to more liquidity in coupled areas. Since its launch in 2018, 114 million trades have been registered on SIDC (source:

European Market Coupling news

Data analysis shows that 80% of the trades in SIDC have originated on the European Power Exchange EPEX SPOT. This means that since go-live in 2018, for 80% of the executed trades at least one trade leg was an order submitted from an EPEX SPOT member. This illustrates that our trading community greatly contributes to SIDC liquidity.

European Market Coupling news
of trades originated on EPEX SPOT

The challenge: to deliver on climate goals

The SDAC and SIDC project parties are working hard to quickly deliver the next milestones, as the role of the pan-European power market is central to achieve a cost-efficient energy transition. As a next step, 15 and 30 minute continuous trading as well as Intraday auctions will be made available across all countries.

The role of the pan-European power market is central to achieve a cost-efficient energy transition.

At several borders, 15 and 30 minute continuous contracts have been tradable since November 2020. 30 minute products are available on the French-Belgian border, 15 minute products on the Austrian-Hungarian border, and 15 as well as 30 minute products on the Belgian-German, Belgian-Dutch and Dutch-German borders. In addition, the already coupled Intraday market for 15 minute products of Austria, Germany and Slovenia has been extended to Belgium, Hungary and the Netherlands in the same year.

It is crucial to make 15 and 30 minute contracts available across the entire continent, because they enable market participants to efficiently integrate a growing amount of renewable generation into the market.