Statistical analysis of two different intraday market designs: the German and Iberic intra-day market

This paper presents a detailed review of two different market design implementations that take part of the Single Intraday Coupling (SIDC) project: the Iberian and the German intra-day (ID) market. Composing of a different number of auctions besides continuous trading, these two markets present various advantages and drawbacks that can help to highlight what could be the best solution for the future of the ID market coupled among all European countries to better insert intermittence resources. SIDC aims at fostering the penetration of intermittence resources in the energy market. Statistical analyses have been led to study the behavior of agents and the efficiency of the markets. Results show that a high number of auctions reflect better prices in continuous trading giving price signal to agents constantly, but continuous trading is necessary for submitting orders close to the delivery time and giving the opportunity to react quickly to the events.