Course 06 of 20 · Power and Electricity Desk Academy

Day-Ahead Trading & Auctions

Stage B, Market execution. Level 3 of 10.

The preparation and placement of day-ahead auction bids and the interpretation of the auction clearing outcome.

116 chapters · 11 modules · every chapter one 8 to 10 minute explainer · builds on: Course 03, Course 05

Enrol or enquire See the 116 chapters
How a chapter is sized

One chapter is one idea taken to the point of use

Each chapter is a single self-contained explainer of 8 to 10 narrated minutes, covering one idea to the point where you can use it.

Chapters run in order. Each one assumes only what the chapters before it taught, and capability belonging to a later course is named and deferred rather than half-covered.

Curriculum

11 modules · 116 chapters

Open any module for its full chapter list, in teaching order.

M0 The Day-Ahead Session as a Desk Event Ch 1-11
  1. The Auction Day on a Power Desk
  2. Gate Closure as a Hard Deadline
  3. What the Desk Brings to the Auction
  4. Why the Session Clears Each Hour Separately
  5. Who Else Is Bidding Into the Same Session
  6. The Auction Operator and What It Owes You
  7. Membership, Portfolios and Bidding Rights
  8. Buying and Selling in the Same Session
  9. What the Session Settles and What It Leaves Open
  10. The Day-Ahead Timetable End to End
  11. The Recurring Bid Failures Ahead
M1 Preparing the Bid: the Position Picture Ch 12-22
  1. The Starting Position at Gate Closure
  2. Reading an Open Position Hour by Hour
  3. Turning a Contract Book Into Hourly Obligation
  4. Plant Availability as a Bid Input
  5. The Demand Forecast the Bid Rests On
  6. Wind and Solar Output as a Bid Input
  7. Combining Forecasts Into One Net Requirement
  8. Forecast Vintage and the Cut-Off Problem
  9. The Residual the Auction Has to Close
  10. Deciding to Buy, Sell or Stand Aside
  11. A Worked Position Sheet Before Bidding
M2 Forming the Bid Price Ch 23-32
  1. What a Bid Price Actually Commits You To
  2. Assembling a View on Tomorrow's Price
  3. Setting a Reservation Price to Sell an Hour
  4. Setting a Limit to Buy an Hour
  5. Opportunity Cost Between Neighbouring Hours
  6. Pricing the Shoulder Hours Nobody Watches
  7. Technical Price Limits on an Order
  8. Bidding When the Forecast Is Uncertain
  9. When the Right Decision Is Not to Bid
  10. A Worked Price Ladder for One Hour
M3 Order Types and What Each Commits Ch 33-44
  1. The Baseline Order the Rest Are Judged Against
  2. Price and Quantity Pairs as a Step Curve
  3. Interpolation Between Two Price Steps
  4. The Block Order and Its All-or-Nothing Logic
  5. Linked Blocks and Parent Conditions
  6. Exclusive Groups and Picking One Alternative
  7. Profiled and Shaped Block Orders
  8. Flexible Hourly Orders
  9. Minimum Income Conditions on an Order
  10. Ramp and Gradient Limits Inside an Order
  11. Choosing Between a Curve and a Block
  12. A Worked Order Set for One Delivery Day
M4 Building the Order Book for Submission Ch 45-54
  1. From Position Sheet to Order File
  2. Sign Conventions and the Direction Error
  3. Hourly Orders Against a Half-Hourly Book
  4. Lot Size, Rounding and the Lost Megawatt
  5. Units, Currency and the Decimal Trap
  6. Splitting One Requirement Across Order Types
  7. Allocating Orders Across Portfolios
  8. The Bid Mandate and Its Limits
  9. Four Eyes on the Order Before It Goes
  10. The Pre-Submission Checklist Worked
M5 Placement and the Submission Window Ch 55-64
  1. The Submission Channel and How It Fails
  2. Credentials, Access and the Locked-Out Trader
  3. Submitting, Acknowledging and Confirming Receipt
  4. Amending an Order Before the Window Shuts
  5. Withdrawing an Order and What Remains
  6. Why the Platform Rejected the Order
  7. Bidding Capacity Limited by Posted Collateral
  8. Missing the Window and the Fallback Route
  9. Submitting for a Weekend or Holiday Run
  10. A Worked Submission From File to Acknowledgement
M6 The Clearing Outcome Ch 65-75
  1. What the Result Publication Contains
  2. Reading the Hourly Price Row
  3. Matched Volume Against Submitted Volume
  4. Fully, Partly and Not Accepted
  5. The Marginal Order and the Partial Fill
  6. Pro-Rata Allocation at the Clearing Price
  7. Why a Block Was Paradoxically Rejected
  8. An Accepted Block That Loses Money
  9. When a Conditional Order Fails Its Test
  10. The Net Position the Session Leaves
  11. A Worked Result File Read Line by Line
M7 Interpreting the Outcome Against Intent Ch 76-85
  1. The Gap Between Intent and Fill
  2. Hit Rate and What It Really Tells You
  3. Diagnosing a Fill You Did Not Want
  4. Diagnosing a Fill You Needed and Missed
  5. Was the Price Wrong or the Volume Wrong
  6. The Outcome Against the Desk's Own Expectation
  7. Reading Other Participants From One Outcome
  8. Two Consecutive Sessions Read Together
  9. The Bid Review Meeting
  10. A Worked Diagnosis of One Bad Hour
M8 Confirming, Scheduling and Handover Ch 86-95
  1. Confirming a Cleared Trade
  2. The Schedule the Outcome Creates
  3. Nominating the Cleared Volume
  4. Reconciling the Result to Internal Books
  5. Booking the Auction Result Into the ETRM
  6. The Trade Capture Fields That Matter
  7. The Position Report the Next Shift Reads
  8. Handing the Day Over to Delivery
  9. The Residual Left for the Delivery Day
  10. A Worked Handover Pack
M9 When the Session Does Not Behave Ch 96-106
  1. A Delayed Session and a Waiting Desk
  2. A Cancelled or Rerun Session
  3. Fallback Clearing When Coupling Fails
  4. Results That Arrive Too Late to Use
  5. A Price Limit Reached in Clearing
  6. An Hour That Cleared on Almost Nothing
  7. A Rejected Order Found Too Late
  8. When the Desk Itself Fails
  9. Keeping the Bid Record Defensible
  10. Explaining a Bid to Someone Who Was Not There
  11. A Worked Incident and Its Report
M10 The Auction Day End to End Ch 107-116
  1. One Delivery Day, Part One: Position and Forecast
  2. One Delivery Day, Part Two: Prices and Orders
  3. One Delivery Day, Part Three: Submission and Acknowledgement
  4. One Delivery Day, Part Four: The Outcome
  5. One Delivery Day, Part Five: Diagnosis and Handover
  6. A Generator's Bid and a Supplier's Bid Compared
  7. One Session, Three Units to Place
  8. Improving the Bid Process Over a Quarter
  9. What Day-Ahead Bidding Cannot Do
  10. The Capability You Now Hold

The brochure gives each of these 116 chapters a paragraph on what it covers and what you can do once you have worked through it.

This is course 6 of twenty

It stands alone, and it is also the entry point to the Power and Electricity Desk Academy pathway.

Enrol or enquire See the whole pathway