The Day-Ahead Market is a local auction to allow day-ahead trading within the Single Electricity Market.
How it works
The Day-Ahead Market is a daily auction that takes place at 11:00 each calendar day. In this auction Exchange Members may trade electricity in 24 one-hour Trading Periods for the timeframe starting at 23:00 that evening and finishing at 23:00 the following day. This auction timeframe is commonly referred to as a Trading Day. The results of the day-ahead Market auction are published as soon as practicable from 11:45.
The Order Book for a Day-Ahead Market auction opens at 23:00, 19 days before the auction and closes at 11:00 on the day the auction takes place.
The Day-Ahead Market is a dual currency auction. Exchange Members with Units registered in Northern Ireland are required to submit their offer data in GBP and Exchange Members with Units registered in Ireland are required to submit their offer data in Euro.
The following Products are available to trade in the Day-Ahead auction.
A Simple Order is a buy or sell Order related to one individual Trading Period.
A Complex Order is a sell Order that can be submitted for one or more Trading Periods, within a specified Trading Day. A Complex Order can be placed with the following conditions:
- Minimum Income Condition (with or without a Scheduled Stop Condition)
- Load Gradient (MWh)