OKTE, a.s. is in charge of organization and evaluation of the organized short-term electricity market in the territory of the Slovak Republic in accordance with Act no. 251/2012 Coll. on Energy and on Amendments to Some Acts (The Act on Energy sector), Act No. 250/2012 Coll. on Regulation in Network Industries (The Act on Regulation), Decree of the Regulatory Office for Network Industries No. 24/2013 Coll. laying down the rules for the functioning of the internal electricity market and the rules for the functioning of the internal gas market (Market Rules) as well as the OKTE, a.s. Operation Order (Operation Order). The aforementioned business activity of the company is regulated and subject to price regulation by the Regulatory Office for Network Industries.
The organized short-term electricity market, either intraday or day-ahead, allows its participants to submit their supply or demand orders on a daily basis, to increase their chances of settling their trading position prior to the electricity supply/off-take and to reduce the likelihood of an imbalance between the planned and the actual value of the electricity supply/off-take.
Since 19 November 2014, OKTE, a.s. together with the national regulatory authorities, transmission system operators and national market operators of the Czech Republic, Slovakia, Hungary and Romania have successfully launched and operate the cross-border coupling of the Czech, Slovak, Hungarian and Romanian electricity markets in the form of implicit allocation of transmission capacities on the common cross-border profiles.
Since one of the most frequent requests of the short-term market participants was to reduce the time between entering into a purchase or sale contract and the physical electricity delivery, OKTE, a.s. has implemented a continuous intraday trading solution for the electricity market participants in the Slovak bidding zone. The launch of the intraday electricity market platform itself took place on 1 April 2016.
With effect from 1 December 2019, OKTE, a.s. has been re-designated by the Regulatory Office for Network Industries as a nominated electricity market operator (NEMO) to carry out activities related to the single day-ahead and intraday electricity market coupling. OKTE, a.s. as a license holder for the activity of a short-term electricity market operator in the Slovak Republic has met demanding technical, legislative and administrative criteria and requirements in the area of short-term electricity market organization when repeatedly obtaining the NEMO status under the CACM Regulation in the bidding zone of the Slovak Republic
In the role of short-term electricity market operator as well as NEMO, the company actively participates in activities related to the development, implementation and operation of the single day-ahead electricity market coupling within the European Union. OKTE, a.s. participates in several day-ahead market development projects, such as Core Flow-based Market Coupling project or the new 4M Market Coupling project with Germany, Austria and Poland, which will result in the initial coupling of the 4M MC and MRC regions (the so-called Interim Coupling project).