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PCR - Price Coupling of Regions

Price Coupling of Regions (PCR) is the initiative of seven European Power Exchanges to develop a single price coupling solution to be used to calculate electricity prices across Europe, and allocate cross-border capacity on a day-ahead basis. This is crucial in order to achieve the overall EU target of a harmonized European electricity market. The integrated European electricity market is expected to increase liquidity, efficiency and social welfare. PCR is open to other European power exchanges wishing to join.

What is PCR:

PCR is based on three main principles: a single algorithm, robust operation and individual power exchange accountability.

  1. The common algorithm will give a fair and transparent determination of day-ahead electricity prices across Europe and allocate cross-border capacity. The algorithm is developed respecting the specific features of the various power markets across Europe. It will optimize the overall welfare and increase transparency.
  2. The PCR process is based on decentralized sharing of data, providing a robust and resilient operation.
  3. The PCR Matcher and Broker service enables exchange of anonymized orders and area-to-area transmission capacities among the power exchanges to calculate area prices and other reference prices and area-to-area transmission flows for all included bidding areas.

History:

Initiative of seven Power Exchanges: EPEX SPOT, GME, Nord Pool, OMIE, OPCOM, OTE and TGE; PCR is used to couple the following countries: Austria, Belgium, Czech Republic, Denmark, Estonia, Finland, France, Germany, Hungary, Italy, Latvia, Lithuania, Luxembourg, the Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden and UK.

The initiative started in 2009 and the PCR parties signed the PCR Cooperation Agreement and PCR Co-ownership Agreement in June 2012. PCR is being pragmatically progressed by a limited task force of Power Exchanges.

PCR presentation.pdf (384 KB)

One of the key elements of PCR project is the development of a single price coupling algorithm, which will adopt the name of EUPHEMIA (acronym of Pan-European Hybrid Electricity Market Integration Algorithm). It will be used to calculate energy allocation and electricity prices across Europe, maximizing the overall welfare and increasing the transparency of the computation of prices and flows.

Euphemia Public Description.pdf (2,00 MB)

Euphemia Public Presentation.pdf (1,10 MB)

The power exchanges of the Price Coupling of Regions Initiative (PCR) hosted the PCR Euphemia Forum for the project stakeholders in Brussels on 11th of January 2016. The main topics discussed were the current concept of the Euphemia algorithm as well as possibilities and proposals for the short-term and mid-term development.

The record of the Forum is available online under the following credentials until 10th of February:

Link: http://livestream.com/accounts/7777696/events/4656612/videos/109073237/player?autoPlay=false&height=360&mute=false&width=640

Password : Streaming2016

For more information please see the presentations:

PCR Stakeholder Forum.pdf (1,80 MB)

Non-uniform pricing and thermal orders for the day-ahead Market.pdf (1,10 MB)

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