Market coupling of Greek, Italian and Slovenian intraday markets has been scheduled for 21 September through complementary regional intraday auctions (CRIDA).
This market coupling promises to increase the liquidity of Greece’s intraday market, which has remained subdued since its launch several months ago, while also easing balancing market burdens of participants. A liquidity boost in the intraday market is necessary for optimal management of intermittent production, as is the case with most renewable energy units.
The extent to which the coupling will impact Greek intraday market remains to be seen, given the limited capacity of an existing submarine cable linking Greece and Italy, at 500 MW. This interconnection will require a capacity boost if high-level intraday market activity is to be achieved, as the infrastructure will need to be able to facilitate physical deliveries of electricity amounts ordered. Also, the interconnection’s leftover capacity for intraday market trading will depend on the level of electricity import and export agreements established through the preceding day-ahead market.
A second step in the coupling of Greek intraday market is planned with the country’s entry into the continual XBID (Cross Border Intraday) market with Italy and Bulgaria, planned for the first quarter of 2022.
