Tibber's App Revamp Tracks New 15-Minute European Power Market
Tibber has revamped its app to offer users a more intuitive view of price screens, with 15- or 60-minute viewing options. This update aligns with a significant change in the European power market, which has shifted to 15-minute intervals in day-ahead trading.
The move to 15-minute intervals aims to reduce 'ramp costs' and boost revenues for direct marketers' customers. This change is mandatory across European electricity markets, as per a European Union requirement. The transition, initially planned for June 11, was postponed and finally took place on September 30, 2023.
Vattenfall's Jörg Seidel sees this as a 'true paradigm shift' for the energy transition. He expects more precise production forecasts and increased system flexibility with the shorter intervals. The industry hopes this change will bring positive momentum for the marketing of battery storage systems and dynamic electricity tariffs. The 15-minute pricing reflects reality more accurately, benefiting renewables by better matching their electricity production profiles.
The European power exchange (EPEX) Spot market successfully transitioned to 15-minute intervals on September 30, with the first trading in the new time frame occurring that day and corresponding deliveries on October 1. Tibber's app redesign ensures users can stay informed with the new pricing structure.
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