11 April 2022.
In line with the Harmonised Maximum and Minimum Clearing Prices (HMMCP) Methodology in accordance with Article 41(1) of Commission Regulation (EU) 2015/1222 of 24th July 2015 (CACM Regulation), the harmonised maximum clearing price for Single Day-Ahead Coupling (SDAC) shall be increased by 1,000 EUR/MWh if the clearing price exceeds a value of 60 per cent of the harmonised maximum clearing price for SDAC in at least one market time unit in a day in an individual bidding zone or multiple bidding zones. This decision follows the high prices of 2,712.99 and 2,987.78 EUR/MWh reached on 3rd April 2022 (delivery date 4th April) in France, in hours 8 and 9, respectively.
The current harmonised maximum clearing price for SDAC is +3,000 EUR/MWh, which will increase to +4,000 EUR/MWh. The new maximum clearing price shall apply in all bidding zones that participate in SDAC, from five weeks after the day the event referred to has taken place. In this case, therefore, it will apply from 10th May 2022 (first trading session).
However, the new maximum clearing price threshold to be reached to trigger the increase of the maximum clearing price is set to 2,400 EUR from the day following detection (thus applicable from 4th April, in this case), as the value of 60 per cent of the new +4,000 EUR/MWh harmonised maximum clearing price.
The HMMCP methodology is available on the NEMO Committee webpage here.
The European Power Exchange EPEX SPOT SE and its affiliates operate physical short-term electricity markets in 13 countries: in Central Western Europe, the United Kingdom, Switzerland, the Nordics and in Poland. As part of EEX Group, a group of companies serving international commodity markets, EPEX SPOT is committed to the creation of a pan-European power market. Over 300 members trade electricity on EPEX SPOT. 49% of its equity is held by HGRT, a holding of transmission system operators. For more information, please visit www.epexspot.com.