Overview
- The first day-ahead auction on Tuesday sets 96 quarter-hour prices for Wednesday, replacing the current 24 hourly slots.
- The transition is mandated by EU Regulations 2017/2195 and 2019/943 and is being launched in a coordinated move across member states.
- Market operator OMIE and Red Eléctrica have upgraded systems to handle four times more data, with clearing done via the common EUPHORIA algorithm.
- Industrial consumers with 15-minute metering can adjust operations to target cheaper intervals, while most households will still be billed on hourly averages under PVPC rules.
- Wholesale electricity remains volatile, with OMIE showing hourly peaks reaching €199.34/MWh on Sept. 30 ahead of the new pricing granularity.