Purchase of electricity with block orders from June, 1

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5/29/2020

A new type of order is introduced on the organized day-ahead electricity market. From 1.6.2020 it will be possible to purchase electricity in form of a complete block.

The energy sector has not been spared the wrath of negative effects of the COVID-19 pandemic. Since the beginning of the year, we have seen a dramatic drop in consumption and drop in prices on the wholesale market.

Excess of electricity volume enters the market, causing imbalances in the electricity system. OKTE, a.s., market operator of the short-term electricity market in Slovakia, therefore decided to make available a new tool, block purchase orders. Producers will thus be able to buy back excess of electricity for lower prices. OKTE, a.s., will help to reduce the impact of the situation on individual market participants and final consumers.

OKTE, a.s., organizes day-ahead market on the XMtrade^®/ISOT platform, which is developed by SFÉRA, a.s. We managed to prepare a new type of order in an expressly short time. One of conditions for successful launch of orders was successful testing within the interconnected 4M MC markets (CZ-SK-HU-RO).

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