![]() As with day-ahead trading, intraday trading is anonymous and takes place on every day of the year. ![]() The price of one megawatt-hour can range from -9,999 to 9,999 euros. The smallest tradable unit on the intraday market is 0.1 MW, which is the same minimum as the day-ahead market. At the conclusion of the auction, quarter-hour products for the next day can be continuously traded from 4 p.m. This marks the start of continuous trading of hourly products and, since 9 December 2014, the opening auction of quarter-hour products. Intraday trading at the EPEX Spot opens at 3 p.m. To make portfolio management simplier power traders were given the ability to trade with shorter lead times. The EPEX spot market says this was caused by increased feed-in from fluctuating energy sources that make feed-in forecasting more difficult. Lead times in Austria have come down 75 minutes and are now 30 minutes prior to delivery. This has since been reduced to just five minutes in Germany. For example, for trading within Germany, the lead time for each quarter-hour interval was reduced from 45 to 30 minutes on 16 July 2015. Over the years, lead times for intraday trading have gotten shorter and shorter.
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