The Electricity Market Operator, OPEM, has published for public consultation new procedures developed in accordance with the provisions of the Electricity Market Rules. These include:

• The Procedure for Establishing and Modifying the Price Scale for the Day-Ahead Market and the Intraday Market;

• The Operational Procedure for the Establishment, Verification, and Use of Financial Guarantees for Participation in the Day-Ahead Market and the Intraday Market;

• The Operational Procedure Regarding Collections and Payments Related to Transactions on the Day-Ahead Market and the Intraday Market.

Previously, operational procedures for the implementation of the Day-Ahead Market (DAM) and the Intraday Market (IDM) were developed and approved. These procedures will enable hourly trading of electricity, including electricity from renewable sources. The two procedures establish the rules for price formation and the trading mechanisms for short-term electricity markets, providing a transparent and competitive framework for the sale and purchase of electricity. They also support real-time adjustment of market participants' energy portfolios, contributing to greater flexibility and efficiency in the energy system.

The wholesale electricity market consists of the forward contracts market, the Day-Ahead Market (DAM), the Intraday Market (IDM), and the balancing market. The Day-Ahead Market operates as an auction mechanism, where offers for the delivery day are submitted by 12:00 PM for each hour of the following day. The hourly price of the purchase offer represents the maximum price at which the DAM participant is firmly committed to purchasing the quantity of electricity specified in the submitted offer. The resulting transactions constitute firm commercial obligations for the participants and are finalized through the physical delivery of electricity into the national power system (SE) on the delivery day.

The Intraday Market (IDM) allows for electricity trading up to 90 minutes before the hour of delivery. Offers entered into the trading system are displayed anonymously, and matching is carried out continuously as soon as the necessary conditions are met. It is important to note that for the same hourly interval, multiple different prices may exist, depending on the transactions concluded.

The creation of such short-term markets, particularly the Day-Ahead Market, is necessary to enable future coupling with neighboring electricity markets, and especially to join the European Single Day-Ahead Coupling (SDAC) and Single Intraday Coupling (SIDC).

It is worth recalling that “Operatorul Pieței de Energie M” LLC was designated by Government decision as the electricity market operator, with the obligation to create and ensure the functioning of electricity markets. In March 2024, the company obtained an operating license from the regulatory authority.