Single hourly order
The largest share of the day-ahead trading is matched based on single hourly orders. The member specifies the purchase and/or sales volume for each hour and may choose between a price dependent and a price independent order.
Single hourly orders need to be defined with at least two price steps, minimum price (EUR -500) and maximum price (EUR 3000). Price independent orders are orders where buy or sell volume will be placed at the minimum and maximum price steps for all the intended hours. The member will receive a schedule of delivery equal to the specified volume for this hour, regardless of the price level.
Single hourly orders can also be defined with several price steps; these orders are called price dependent orders. Members who submit price dependent orders, accept that Nord Pool will make a linear interpolation of volumes between adjacent pair of submitted price steps to find the correct traded volume for that member.
Example of a price independent order (24 hours)
In this example the participant wants to buy 70 MW in all individual hours 01-24 at any price between -500 and 3000 euro.
Example of a price dependent order
In this example the participant wants to trade different volume in each hour depending on price.
In hour 01, he wants to buy 50 MW at any price between -500 and 50 and to sell -10 MW at prices between 55,1 and 60 and -30 MW between 60,1 and 3000. Should the price become 55,05 Euro, his traded volume will be -5 MW due to linear interpolation.