Intraday electricity market launched in Moldova
The Intraday Electricity Market (IDM) has been launched in the Republic of Moldova by the Moldovan Energy Market Operator (OPEM), through a commercial transaction between a local supplier and an industrial consumer, with a volume of 1 MWh and a closing price of 2,460 MDL/MWh.
This is the final step in completing the architecture of organized and competitive electricity markets in the Republic of Moldova, according to the Electricity Market Integration Package.
The Intraday Market offers the possibility to adjust sales and purchase positions close to the time of electricity delivery. Thus, market participants will have the opportunity to use this market to correct long-term forecasted schedules and better balance the difference between production and consumption, thereby reducing commercial risks and increasing the efficiency of the national electricity system operation.
According to the Ministry of Energy, the operationalization of the intraday electricity market will allow hourly electricity purchases in real-time and throughout the day, as well as price-setting through transparent bidding mechanisms, similar to European practices. The implementation of both the intraday market and the day-ahead market will ensure more efficient use of resources, increase competition between participants, and encourage investments in renewable energy sources, the source noted.
The launch of the intraday electricity market follows the operationalization of the Day-ahead Market last week.
OPEM has been designated by the National Agency for Energy Regulation (ANRE) as the electricity market operator (OPEED), tasked with the international coupling of the day-ahead electricity market and the intraday electricity market for the next four years.
In early September, ANRE introduced adjustments to functioning of the short-term markets – Day-ahead Market (DAM) and Intraday Market (IDM). They will allow transactions closer to the delivery time, reducing imbalances and associated costs.
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