Epex Advised to Improve Back-Up Plan After IT Glitch
- Glitch in power market caused distrust among traders
- Market Coupling Steering Committee seeks review of procedures
Electricity transmission lines in Berlin.
Photographer: Krisztian Bocsi/BloombergThis article is for subscribers only.
European electricity networks must improve their communications after a glitch briefly caused German electricity prices to spike 550% last month, according to a committee advising the region’s biggest spot power exchange.
On June 25, the EPEX Spot exchange experience a technical issue in its trading system, which caused pricing turmoil in day-ahead power markets. The incident damaged trust, with traders complaining of poor communication from the exchange.