Shadow Auction definition

Shadow Auction means the explicit auction run by the Allocation Platform by which daily Cross Zonal Capacity is offered as Fallback Procedure for the single day-ahead coupling process and allocated to market participants who submit bid(s) according to the Shadow Allocation Rules (SAR);

Shadow Auction means the explicit auction executed by the Allocation Platform during which daily cross-zonal capacity is offered as a fallback

Shadow Auction means the explicit auction run by allocation platform(s) by which daily cross- zonal capacity is offered as fallback procedure for the single day-ahead coupling and allocated to market participants who submit bid(s);

Examples of Shadow Auction in a sentence

• The Registered Participant shall not be entitled to offset any amount, or withhold any debts arising in connection with obligations resulting from a Shadow Auction, against any claims towards the Allocation Platform, whether or not arising out of a Shadow Auction.

• Each Registered Participant fulfilling the requirements for participating in the Shadow Auction may place default Bids for the Bidding Zone borders for which they are entitled according to Article 20.

• A Registered Participant not wishing to submit the default Bid on the Auction Tool for future Shadow Auctions shall set the Bid Quantity and the Bid Price of its default Bids to zero before the subsequent launch of a Shadow Auction.

• Bidding Zone borders with existing a ramping constraints should consider these constraints within their Shadow Auction.

• Provided that a Bid or a set of Bids fulfils the requirements set forth in Article 21, the Allocation Platform shall confirm to the Registered Participant that such Bid(s) have been correctly registered into the system and will deliver an acknowledgment of receipt via the Auction Tool only once the Shadow Auction is run.

• If Shadow Auctions are triggered during a single day‐ahead coupling session, Shadow Auctions may be launched in parallel of the resolution of the problem of the single day‐ahead coupling but the Shadow Auction results will only be considered if a decoupling is declared.

• The Allocation Platform shall run the Shadow Auction for both unforeseen and foreseen unavailability of the single day‐ahead coupling on the concerned Bidding Zone borders.

• The Allocation Platform shall determine the provisional or final Shadow Auction results using an optimization function aiming at maximization of the sum of the Registered Participant’s surplus and the Congestion Income generated by the winning Bids while respecting the constraints of the optimization function in form of relevant Offered Capacities.

• A Registered Participant who wants to modify a default Bid for a future Shadow Auction shall change the Bid Quantity and the Bid Price of its default Bids before the launch of a Shadow Auction.

• By participating in the Shadow Auction after the Registered Participant was informed about the changes and/or adaptations of the Shadow Allocation Rules and after these changes and/or adaptations of the Shadow Allocation Rules entered into force, it is deemed that the Registered Participant has accepted the changed, i.e. the valid and effective version of the Shadow Allocation Rules.

More Definitions of Shadow Auction

Shadow Auction means the explicit auction executed by the Allocation Platform by which daily cross-zonal capacity is offered as fallback procedure for the SDAC and allocated to market participants who submit bid(s);

Shadow Auction means the explicit auction run by Allocation Platform(s) by which daily Cross Zonal Capacity is offered as fallback procedure for the day-ahead market coupling and allocated to market participants who submit Bid(s);

Shadow Auction means the explicit auction run by Allocation Platform(s) by which daily Cross Zonal Capacity is offered as fallback procedure for the day-ahead market coupling and allocated to market participants who submit Bid(s); Use It Or Lose It (UIOLI) means an automatic application by which the underlying daily Cross Zonal Capacity of the non-nominated Physical Transmission Rights irrevocably fall back to the relevant TSO(s) and whereby Transmission Right holders that do not nominate to use their rights have no right to receive a pay-out; Working Day means the calendar days from Monday to Friday, with the exception of public holidays as specified on the website of the Allocation Platform;