Plugged In: the energy news podcast Complex and volatile - 15-minute power auctions start
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Oct 3, 2025 Jerome Le Page is the Chair of the Electricity Committee at Energy Traders Europe, while Jean-Paul Harreman is the Director at Montel Analytics. They discuss the recent rollout of 15-minute day-ahead auctions and its impact on market volatility. Le Page shares insights on trader sentiment and legislative contexts, while Harreman explores zigzag pricing patterns linked to cross-border capacity calculations. Both emphasize the potential for this new granularity to attract flexibility providers and enhance market integration of renewables.
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Major Market Granularity Shift
- The 15-minute day-ahead auction is one of the biggest changes to Europe's power market and raises granularity from 24 to 96 prices per day.
- That higher resolution will expose intra-hour volatility and require market participants to adapt to far more data points.
Baltics' Yo-Yo Price Example
- Gert Ove Mollestad observed immediate intra-hour spikes, citing the Baltics where prices jumped from €96 to €190 then back to €93 within 30 minutes.
- He flagged these rapid yo-yo moves as an early surprise following the launch.
Policy-Driven Market Alignment
- The shift followed legislation after the energy crisis and aligns day-ahead auctions with 15-minute imbalance settlement and intraday products.
- Traders welcomed the alignment because it supports short-term flexibility needed for renewables.