The XBID project is an important step towards creating a single integrated European intraday market, delivering continuous trading of electricity across the following countries:
Austria, Belgium, Denmark, Estonia, Finland, France, Germany, Latvia, Lithuania, Norway, The Netherlands, Portugal, Spain and Sweden.
Most other European countries are due to take part in the next steps of the project.
XBID project is based on a common IT system with one Shared Order Book (SOB), a Capacity Management Module (CMM) and a Shipping Module (SM).
It allows for orders entered by market participants for continuous matching in one bidding zone to be matched by orders similarly submitted by market participants
in any other bidding zone within the XBID solution’s reach, as long as transmission capacity is available.
The intraday solution is in line with the EU target model for an integrated intraday market and supports both explicit allocation and implicit continuous trading.
European-wide intraday coupling is a key component for completing the European Internal Energy Market.
With the rising share of intermittent generation in the European generation mix, connecting intraday markets through cross-border trading is an increasingly important
tool for market parties to keep positions balanced. As the intraday market develops it will enable increased optimisation of the use of generation - especially variable
Renewable Energy Sources (RES) – and will also enable demand response products to develop. It will also lead to welfare benefits.
The purpose of the XBID initiative is to increase the overall efficiency of intraday trading.