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The review of market monitoring indicators for short term electricity trading

Event:  13. konferenca slovenskih elektroenergetikov CIGRE-CIRED, Maribor, 22.-24. maj 2017

Authors: Edin Lakić, Gašper Artač, Tomi Medved, Jernej Zupančič, Andrej Gubina

Abstract: 

With market liberalization the trend of electricity trading moved from long-term bilateral trading to short-term day-ahead and intraday market. Together with the implementation of organised electricity market it became mandatory to ensure high level of market transparency to prevent possible occurrence of market abuse, which may affect the security of the system. To maintain the integrity of the market for all market participants a thorough market surveillance is needed. This can be achieved through the development of market monitoring indicators which are able to detect suspicious trading behavior. The paper presents a short-term electricity market with examples of possible market abuses and requirements needed for effective market surveillance. Additionally, some economic indicators for short-term trading are presented and illustrated with specific examples. Due to market development indicators need to be constantly modified, upgraded or changed to ensure proper surveillance and prevent possible abuses.

Keywords: power market, short term electricity trading, market abuse, market monitoring indicators, economic indicators