Single Intraday Coupling (SIDC)

What is Single Intraday Coupling (SIDC)?

Single Intraday Coupling (SIDC) creates a single EU cross-zonal intraday electricity market. In simple terms, buyers and sellers of energy (market participants) are able to work together across Europe to trade electricity continuously on the day the energy is needed.

An integrated intraday market makes intraday trading more efficient across Europe by:

  • promoting competition

  • increasing liquidity

  • making it easier to share energy generation resources

  • making it easier for market participants to allow for unexpected changes in consumption and outages

As renewable intermittent production such as solar energy increases, market participants are becoming more interested in trading in the intraday markets. This is because it has become more challenging for market participants to be in balance (i.e. supplying the correct amount of energy) after the closing of the day-ahead market.

Being able to balance their positions until one hour before delivery time is beneficial for market participants and for the power systems alike by, among other things, reducing the need for reserves and associated costs while allowing enough time for carrying out system operation processes for ensuring system security.

Learn more about the single intraday coupling (SIDC).

How Single Intraday Coupling began

Single Intraday Coupling (SIDC) is an initiative between Nominated Electricity Market Operators (NEMOs) and Transmission System Operators (TSOs) which enables continuous cross-border trading across Europe.

SIDC follows on from the XBID (Cross Border Intraday) project which delivered, in June 2018, the first go-live of the intraday continuous trading platform. It allows energy networks to integrate and expand across Europe.

The SIDC was launched on 12/13 June 2018 across 14 countries. In the first 16 months of operation over 25 million trades were completed across the countries involved. On 19/20 November 2019 SIDC went live across a further seven countries resulting in 22 countries being coupled.

How SIDC works

It works on a common IT system with:

  1. a Shared Order Book (SOB),

  2. a Capacity Management Module (CMM), and

  3. a Shipping Module (SM).

This means that orders entered by market participants for continuous matching (supply meeting demand) in one country can be matched by orders submitted by market participants in any participants in any other country as long as they are both within the project’s reach and transmission capacity is available.

The intraday solution supports continuous trading that is both:

  • explicit (capacity only. Note: only provided where requested by National Regulatory Authorities (NRAs)), and

  • implicit (capacity and energy together)

SIDC is in line with the CACM (Capacity Allocation and Congestion Management) EU Target model for an integrated intraday market.

SIDC geographical scope and future go-live phases

SIDC will expand in several phases, also referred to as waves. The map below shows the geographic spread of the first and second waves which have been implemented. A third wave is planned and the scope may expand beyond that shown.

The first go-live wave was in June 2018 and included 14 countries. A second go-live with seven further countries was achieved in November

  1. A third wave including Italy and Greece is foreseen for Quarter 4 of 2020. The table below lists the countries of the first and second waves.
First Go-Live in June 2018Second Go-Live in November 2019
15 countries7 countries
AustriaBulgaria
BelgiumCroatia
DenmarkCzech-Republic
EstoniaHungary
FinlandPoland
FranceRomania
GermanySlovenia
Latvia 
Lithuania 
Luxembourg 
Norway 
The Netherlands 
Portugal 
Spain 
Sweden 

To accomplish SIDC, TSOs and NEMOs work in close collaboration.

The organisations involved are:

Transmission System Operators (TSOs):

50HERTZ, ADMIE, AMPRION, APG, AST, BritNed, ČEPS, CREOS, EirGrid, ELERING, ELES, ELIA, ELSO, ESO, FINGRID, HOPS, Litgrid, MAVIR, NGIC, PSE, REE, REN, RTE, SEPS, SONI, STATNETT, SVENSKA KRAFTNÄT, TenneT DE, TenneT NL, TERNA, TRANSELECTRICA and TransnetBW.

Nominated Electricity Market Operators (NEMOs):

BSP, CROPEX, EirGrid, EPEX SPOT, GME, HEnEx, HUPX, IBEX, Nord Pool EMCO, OKTE, OMIE, OPCOM, OTE, SONI and TGE.

Governance structure

The governance of the SIDC consists of three layers which are governed by separate agreements.

  1. Joint NEMOs and TSOs: governed by the Intraday Operation Agreement (IDOA)

  2. Only NEMOs: governed by the ALL NEMO-Intraday Operation Agreement (ANIDOA)

  3. Only TSOs: governed by the Transmission Cooperation Agreement (TCID)

In each case, the governance structure follows a similar approach with:

  • a steering committee at the top,

  • support groups (SG) and task forces (TF),

  • three joint groups dealing with operations:

    • Operations Subcommittee (OPSCOM) and Change Control,

    • Quality Assurance and Release Management (QARM), and

    • Market and System Design (MSD)

Joint NEMOs and TSOs governance structure

How Single Intraday Coupling works

When market participants of each NEMO submit orders, they are put together in one Shared Order Book (SOB). In a similar way, TSOs make available all the intraday cross-border capacities in the Capacity Management Module (CMM).

This allows NEMOs to operate trading systems to show orders to market participants from other market participants in three groups:

  1. within the same NEMO

  2. from other NEMOs in the same market area

  3. from other market areas as long as there is enough capacity available

How Single Intraday Coupling works in detail

When a market participant submits an order for a different market area, it can be matched (i.e. met) as long as there is enough capacity available. To match an order simply means that the market participant can meet and supply the energy demand.

Trade is done on a first-come first-served principle where the highest buy price and the lowest sell price get served first.

Updating the SOB and CMM

When the order can be matched, the order matching is associated with implicit capacity allocation. (this is when capacity and energy are priced together). While two orders are being matched, the SOB and CMM are updated immediately.

The update of the SOB means that the matched orders are removed from the SOB, and consequently the available transmission capacity in the CMM is updated. The number of borders that have their capacities updated depends on where the matched orders are located.

For borders where NRAs requested it, explicit allocation is made available to explicit participants. Currently this is only the case at the French-German and the Croatian-Slovenian borders.

How data about trades is used

The Shipping Module (SM) receives data from the SOB about all trades when they are concluded. These can be:

  • between two different delivery areas, and

  • in the same delivery area between two different NEMOs.

The Shipping Module (SM) of the SIDC solution provides information from concluded trades to all relevant parties such as NEMOs and TSOs.

The data from the SOB and the CMM is enhanced with data from:

  • the relevant TSO,

  • the Central Counter Party (CCP), and

  • shipping agent data from the Shipping Module (SM).

This enhanced data is then sent to relevant parties such as the NEMOs and TSOs at the configured moments.

Market information

Products available

You can read what specific products are available in different market areas in the table below.

The availability of 15 minute products across other market areas will expand in the future.

Number of trades per quarter

From mid-June to 2018 to the end of March 2020, close to 40 million trades have occurred through SIDC.

Go-Live periodNumber of trades
Mid-June to September 20183.5 million
October to December 20184.3 million
January to March 20194.8 million
April to June 20195.8 million
July to September 20195.6 million
October to December 20197.2 million
January to March 20208.3 million

Future development

The development of SIDC is important to all parties (NEMOS and TSO) involved in the project. Here we list future developments to expand and improve the efficiency of the SIDC.

  1. A new release of SIDC (Release 2.0) was deployed at the end of October 2019. This added upgrades to:
    • integrate additional non-Multi NEMO areas into the intraday coupling, and
    • increase the depth of the Shared Order Book (SOB) from 31 to 100.
  2. Plans are underway to implement functionality to address losses on HVDC cables.

  3. Plans are underway to integrate cross-zonal capacity pricing through intraday auction in line with ACER’s decision on establishing a single methodology for pricing intraday cross-zonal capacity.

  4. Plans are underway to implement cross-product matching into the system. This will enable the matching of different products with one another (for example 15 min with 60 min orders).

  5. A new release of SIDC (Release 3.0) is expected to be deployed at the end of 2020. This will add upgrades to fulfil regulatory obligations as regards the publication of operational data as well as improving operational usability of the system

In the longer-term, flow-based allocation and non-standard intraday products are two areas that need to be addressed.

Resources Available

Steering Committee Minutes

Market Involvement

A User Group was convened with Market Parties (MPs) as an interface between the XBID Project and the Market. Following the successful XBID Go-Live it is agreed that the Market European Stakeholder Group (MESC) is the primary interface with MPs.

1st User Group Meeting

2nd User Group Meeting

3rd User Group Meeting

4th User Group Meeting

5th User Group Meeting

6th User Group Meeting

7th User Group Meeting

8th User Group Meeting

9th User Group Meeting

1st Go-Live Pre-Launch Event Presentations

2nd Wave Pre-Launch Event Presentations

XBID Information Package

Press Releases

8 April 2020: NEMOs and TSOs are safeguarding the Day-Ahead and Intraday market coupling

2018 12 05 - 2nd Wave and Gate Opening Time

2018-09-06 – Successful Go-Live and End of Rollback

2019-06-12 - XBID – 1st anniversary and announcement of 2nd Wave Go-Live

2019-11-08 - Date confirmation of the 2nd wave go-live

2019-04-02 - 2nd go live impact

Agreements

Publication of Intraday Operational Agreements according to article 20.7 of the Algorithm Methodology

According to article 20.7 of the Algorithm Methodology as approved by ACER all NEMOs shall in coordination with TSOs publish, by 1 September 2020, and then continuously update the relevant parts of the following documents:

a. operational contracts;

b. operational procedures;

c. change control procedures

d. monitoring procedures;

e. fallback procedures; and

f. back-up procedures.

Based on this regulatory requirement SIDC parties publish these documents for transparency purposes. Any consultation or use of these documents is at your own risk and responsibility and the parties to the SIDC cooperation cannot be held liable for any damage incurred as a result of the use of these documents. Furthermore, these documents can only be used or quoted provided prior written consent is obtained of the parties to the SIDC cooperation. No rights or obligations can be derived from these documents. The publication of these documents does not affect any (intellectual) property right pertaining to these documents or to the information contained therein. The publication of these documents does not preclude the rights of the parties to the SIDC cooperation to amend, replace or suppress the documents.

Please note the following:

  1. For reasons of confidentiality certain parts of the content of the documents have been blackened out or have not been published (e.g. Exhibit 2, 13, 15 of the IDOA).

  2. Exhibit 3 (Change Control Procedure) and the related definitions in Exhibit 1 (Definition List) of the IDOA are to be adapted to reflect the relevant provisions of the Algorithm Methodology. For transparency reasons these documents are published subject to the reservation that they are still to be formally adopted by the parties to the SIDC cooperation via the signature of the Second IDOA Amendment.

  3. The Algorithm Monitoring Procedure is under preparation and finalization is expected shortly.

Intraday Operational Agreement (IDOA)

IDOA Main Text

Exhibit 1: Definitions List

Exhibit 3: Change Control Procedure

Exhibit 4 - High Level Architecture

Exhibit 5: Exchange of Rack Space

Exhibit 6: Operational Procedure (see detailed list below)

Exhibit 7: Technical Readiness

Exhibit 8: List of Parties participating in the Initial Go-Live

Exhibit 9: List of Jointly Owned Development

Exhibit 10: Rules of Internal Order

Exhibit 11: Accession Form

Exhibit 12: Cost Sharing, Monitoring and Settlement

Exhibit 14: Principles for Voluntary Exit

Exhibit 16: Rollback Procedure

Exhibit 6: Operational Procedures

XBID_JOINT_NOR_02 Distribution of allocation information

XBID_JOINT_NOR_03 Nomination

XBID_JOINT_NOR_04 Nomination on behalf

XBID_JOINT_BUP_02 Distribution of allocation information

XBID_JOINT_FAL_01 Incident Management

XBID_JOINT_EXC_01 Closing and re-opening of Interconnector(s)

XBID_JOINT_OTH_01 Procedures Reading Instructions

XBID_JOINT_OTH_02 Internal and External Communications

XBID_JOINT_OTH_05 System Maintenance (Central systems)

XBID_JOINT_OTF_06 Planned Maintenance Window Local Shipper System

XBID_JOINT_CFG_01 SM Configuration

TSO Cooperation Agreement for Single Intraday coupling (TCID)

Main body (consolidated version with 1st amendment)

APPENDIX A - Definitions

APPENDIX C - Accession Form

APPENDIX D - TSO-only operational procedures - see below

APPENDIX E - TSO Change Control Procedure

APPENDIX F - Rules of Internal Order

APPENDIX G - Cost sharing monitoring and settlement

APPENDIX H - List of SLAs

APPENDIX D - TSO operational procedures

XBID_TSO_BUP_01 - Submission of Cross Zonal Capacities

XBID_TSO_CFG_01 - CMM - Balancing Group and User Management

XBID_TSO_NOR_01 - Submission of Cross Zonal Capacities

XBID_TSO_NOR_05 - Allocation on Behalf

XBID_TSO_OTH_04 - Maintenance Window Local TSO System

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