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The minimum volume increment is 0.1 MW.

The minimum price increment is EUR 0.1 per MWh.

Electricity traded for delivery the following day in 24 hour intervals.

Special case:
A full 25 hour Excel template is needed when the clocks are set to winter time. Hour 3 and 3X can contain different values. When the time is switched to summer time the system automatically deletes the exceeding quantities for hour 3 (i.e. 2.00 am to 3.00 am).

Place of Delivery
Deliveries are made within the Serbian transmission system managed by EMS.

Auction hours:
24 hrs per day starting forty five days before Delivery Day, 7 days a week, year-round, including statutory holidays.

Order Book closes Daily at 11:00 am.

Publication time
The auction results are published as soon as they are available from 11:10.

Type of orders

Individual hours
Orders contain up to 256 price/quantity combinations for each hour of the following day. Prices must be between 0.0 €/MWh and 4000 €/MWh. The 254 prices are not necessarily the same for each hour. A volume – whether positive, negative or nil – must be entered at the price limits. A price-inelastic order is sent by putting the same quantity at the price limits.


Block orders are used to link several hours on an all-or-none basis, which means that either the bid is matched on all hours or it is entirely rejected. Block orders have a lower priority compared with single hourly orders. The quantity may be different for every hour of the block. A block order is executed for its full quantity only. A block order is executed or not by comparing its price with the volume-weighted average of the hourly market clearing prices related to the hours contained in the block.

Standard block orders:

·        Block Baseload covering hours 1 to 24

·        Block Peakload covering hours 9 to 20

·        Block Night covering hours 1 to 6

·        Block Morning covering hours 7 to 10

·        Block High Noon covering hours 11 to 14

·        Block Afternoon covering hours 15 to 18

·        Block Evening covering hours 19 to 24

·        Block Rush Hour covering hours 17 to 20

·        Block Off-Peak 1 covering hours 1 to 8

·        Block Off-Peak 2 covering hours 21 to 24

·        Block Business covering hours 9 to 16

·        Block Middle-Night covering hours 1 to 4

·        Block Early Morning covering hours 5 to 8

·        Block Late Morning covering hours 9 to 12

·        Block Early Afternoon covering hours 13 to 16

·        Block Off-Peak covering hours 1 to 8 and 21 to 24

User Defined Blocks

Trading members have also the possibility to submit user-defined blocks linking several hours of their choice.

Particular conditions

A maximum of 10 block orders per portfolio and per delivery day can be entered by the participants. Maximum volume for a block Order is 30 MW.

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