(Reuters) by Barbara Lewis and Karolin Schaps – An EU-wide system for cross-border intra-day power trade needs to be set up as part of the bloc’s plans for a fully connected European energy market with secure, affordable supplies, according to a draft European Commission document. The plan is expected to be published in July as the European Commission presses for completion of a single energy market across the European Union and seeks a radical overhaul to incorporate increased volumes of supplies from intermittent wind and solar-powered generation. “An EU-wide system for cross-border intraday trading needs to be set up – as has been successfully done for day-ahead trading,” the document seen by Reuters says. Day-ahead trading of capacity on interconnectors between western European countries has been working successfully for a number of years. It is a system whereby traders bid for capacity on the day before delivery, ensuring available capacity is used efficiently at the fairest price. Growing amounts of renewable electricity generation, which can fluctuate significantly compared with the output of thermal power plants, have increased the urgency for a Europe-wide mechanism that adapts trading patterns to the nature of the market. “The establishment of liquid and better integrated … continue reading
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