The Leipzig-based European Energy Exchange and RWE's Transportnetz Strom arm are to establish an intraday trading platform for the German power market.

Both parties will contribute their respective experiences in trading, settlement and congestion management, EEX said in a statement. The launch of the market is to take place in the course of this year, possibly as early as October.

The electronic trading platform will be available for the trading participants around the clock. The short-term power transactions concluded there will be settled in a manner protecting the anonymity of the parties involved.

Through intraday trading, the market participants and the public get comprehensive information regarding available capacities, sales and prices. This means the platform makes an important contribution to increased transparency on the electricity market.

The trading platform will not only be available for the trading participants of the EEX Spot Market; moreover, it will be open to other traders and to those responsible for balance areas.

As a first step, the new trading system will permit trading of hourly deliveries of the current and of the next calendar day up to 75 minutes before the commencement of the delivery in question. As a next step, the offer will be extended to trading of quarter-hour deliveries up to 45 minutes before the commencement of delivery in accordance with the intraday specifications as per the German Energy Act and the German grid access regulation.

Moreover, there are plans to include other countries in the platform and to open the settlement infrastructure for intraday transactions not concluded on the platform.