Extra auction for renewables
The European energy exchange Epex Spot is expanding its portfolio. In December, the exchange, which is the most important in a number of countries including Germany, launched its first additional auction for 15-minute contracts. Epex said 58 exchange members participated and 17,690 megawatts were traded. The base price (the average price of all contracts on a given trading day) was EUR 32.53 per megawatt-hour. Epex said the new auction was about the exchange responding to the growing need for flexibility in electricity trading. Epex began trading 15-minute contracts in 2011 to make it easier to integrate wind and solar electricity into exchange trading, and to provide a useful addition to the auction of hourly contracts on the day-ahead market.