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The de facto monopoly of the last hour is finally over

Apr 11, 2024 11:02:00 AM

It is official! Today the European Parliament has approved the final text of the Electricity Market Design (EMD)!  
The amended Electricity Market Design (EMD) expressly states that ALL liquidity will be pooled from ALL NEMOs at ALL times, both for cross- and intra-zonal trading. 
This means that before this summer, all orders will be pooled in the Shared Order Book (SOB) from the Gate Opening Time (GOT) until the latest point in time when Intraday trading is allowed in a given bidding zone (GCT). This implies that all NEMOs will provide access to the same liquidity and spreads and that the de facto monopoly of the last hour will cease to exist. 

Etpa welcomes this decision as it will finally create a level playing field for competition while benefiting market participants, consumers, as well as the environment 
Find out more about the SOB here: 

Find the relevant piece of text below   
(Article 7.2. ca of Regulation 2019/943)