SEMOpx Auction Timings and Market Messages
Affected Period
Status
Closed
Category
SEMOpx
Run type
Created
30/01/2025 08:52
Last Updated
30/01/2025 09:47
Dear Member,
As recently communicated to SEMOpx members, the Removal of the Second Auction process here within the Day Ahead Market took effect from 29th January 2025. As a result, the SEMOpx Auction Timings and Market Messages document here has been updated to reflect this change.
In line with this change, an additional update has been included within this document referring to the management and communication timelines associated with Erroneous Bids. An Erroneous Bid submission can be defined as ''a bid or offer submitted by a Market Participant that contains incorrect or unintended information, which can disrupt Market Operations, lead to financial losses or affect the reliability of the Power System''. In any event a submitted order that is deemed as an Erroneous Bid by the member or via the Reasonable Control Parameter Functionality (in ETS), members can raise such issues to SEMOpx to remove or modify the bid/offer.
An example of an Erroneous bid would be a Price Submission for H1:1 = 1000 Euro as opposed to 100 Euro.
Without the use of Reasonable Control Parameter Functionality, these examples would not breach trading thresholds set by the member, and therefore wouldn't be flagged as erroneous by the SEMOpx trading system. Therefore, the obligation is on the market participant to monitor all submissions and if an incorrect submission is identified, it is the responsibility of the market participant to contact SEMOpx.
In the event an Erroneous Bid submission has been raised by the deadlines highlighted below (per auction), the ''Second Calculation'' process that is in place in both SDAC and SEM-GB, allows the possibility to correct any bidding error. Once confirmed as erroneous by SEMOpx, the bid can be modified or removed, with a second calculation following the update to the submission.
- 11:43 GMT/BST DAM
- 17:55 GMT/BST IDA1
- 08:25 GMT/BST IDA2
If an Erroneous Bid submission event has been encountered, please contact SEMOpx Market Operator immediately via the standard contact information located on the SEMOpx website here.