CROATIAN POWER EXCHANGE Ltd. (CROPEX) is pleased to announce the successful launch of the first organized intraday trading in the Republic of Croatia on 26th April 2017, at 12:00 CET.
The launch of the intraday power market followed after a successful testing period in March and April 2017 with the future members of the intraday market, and after the integration of new intraday business processes into the existing business model of CROPEX. The results of the intraday market could be monitored at: Intraday Market.
On the occasion of successful launch of the Intraday market, Silvio Brkić, Director of CROPEX, said: "The establishment of the CROPEX intraday market represents a major step towards further liberalization and improvement of the functioning of the Croatian power market, and has met all the basic legal prerequisites in accordance with the EU CACM Regulation for the implementation of cross-border market coupling of the CROPEX intraday market with neighbouring EU intraday markets. At the same time, the beginning of Intraday trading has significantly improved the preconditions for the expected full implementation of the market integration of the renewable energy by the EKO balance group leader in accordance with the applicable Croatian laws and regulations. The CROPEX Intraday market opens up the possibility of continuous electricity trading up to 30 minutes before the physical delivery of electricity to the Croatian power system, making the CROPEX Intraday market in line with the most advanced markets in Europe. The possibility of continuous trading, i.e. selling and buying of electricity close to its physical delivery is of particular importance for the efficient management of intermittent production from renewable energy sources with a view to reducing the costs of balancing energy and integration of market sales of produced electricity from renewable energy sources on the bilateral market and CROPEX markets. Since the establishment of CROPEX, 9 additional EU companies has been granted HERA licenses to participate at the Croatian wholesale power market.”
CROPEX was established in May 2014 by the Croatian Transmission System Operator Ltd. and CROATIAN ENERGY MARKET OPERATOR Ltd. The Croatian Energy Regulatory Agency has, based on a public procedure, designated CROPEX as the NEMO power exchange for the single implementation of day-ahead and intraday cross border markets coupling, for the initial period of four years.