Firms weigh benefits as EU power market coupling expands
Day-ahead power market coupling has been in operation across the North West Europe region for over a year. To what extent has it helped prices converge, and what are the next steps aimed at bringing Europe’s electricity markets closer together?
Power market coupling – a process that combines cross-border trading and capacity allocation – is a core component of the European Union's goal of forging a single energy market. Work on pan-European coupling began in 2009 with the price coupling of regions (PCR) project, which involves seven European power exchanges. That algorithm is now in operation in 20 countries that together account for 75% of Europe's power consumption, say the exchanges.
Under market coupling, electricity traders are
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