Financial Settlement & Physical Settlement

For electricity spot market transactions, CCPA creates payment instructions for each trade which are sent to the payment system (SAP) for settlement at the individual settlement banks and financial institutes of each Clearing Member. For this purpose, payment instructions are created in the payment system (SAP) and collected according to the following table:

CCPA monitors the processes and checks the consistency of all systems on a daily basis.

On EXAA’s trading platform, electricity is traded for all 96 quarter hours of the day, for the 24 individual hours and for 15 blocks, which consist of several individual hours, for all days of a year.

As electric energy is, contrary to e.g. crude oil, a non-storable commodity, demand and supply must remain balanced at any given time in order to maintain constant electrical power supply within the respective power grid.

For the physical settlement of electricity spot market trading so-called “balancing groups” are required. The physical delivery obligation of each balance group is fulfilled on the basis of "schedules" for delivery and consumption of electric energy, which are transmitted to the balance group coordinators, the transmission system operators (TSO) and the balance group responsible party in each control area.

CCPA maintains balance groups in the control areas of Amprion, TenneT, 50Hertz and Transnet BW as well as a balance group at Austrian Power Grid AG (APG). The stock exchange transactions for electricity spot market products can optionally be carried out in one of the above mentioned control areas.