On the day-ahead market, power is traded for the next day. The trading participants use the day-ahead market to optimise the procurement and sale of quantities of electricity in the short term. The bids of the hourly auctions allow different buy and sell quantities to be placed at different respective prices in the auction. In this case, the executed quantity depends on the auction price established. EEX offers day-ahead trading for two market areas: for Germany/Austria and for Switzerland.

German/Austrian Power
The German/Austrian market area comprises all German balance areas as well as the balance area of APG in Austria. On every exchange trading day, one auction each takes place at 12:00 am for the 24 hours of the next day. In addition to this, base and peakload blocks can be traded continuously in the morning.

Phelix (Physical Electricity Index)
The Phelix Base Load is the average of all prices in the hourly auctions of one day for the German/Austrian market area. The Phelix Peak Load Index takes the hourly prices of the peak load times (8:00 am until 08:00 pm) into account. The Phelix is the reference price for power in Germany and large parts of central Europe.

Swiss market area
The Swiss market area comprises the balance area of swissgrid. On every exchange trading day, one auction each takes place for every one of the 24 hours of the following day at 10:30 am. The Swissix („Swiss Electricity Index“) is the average of the prices of the 24 hours traded for the Swiss market area. The Swissix isavailable both as a base load and as a peak load index.

Advantages of day-ahead trading in power

• Hourly auction can be used as a flexible tool for portfolio optimisation
• More than 150 trading participants are already active on the Spot Market
• Licensing for the day-ahead market also comprises licensing for intra-day trading of power as well as trading for gas and emissions

Contract Specifications