Further to its communication of 24 December 2024, GME informs market participants that, as of today, the amendments to the Integrated Text of the Electricity Market Rules (hereafter: ME Rules) will enter into force. The amendments, approved by the Ministry of Environment and Energy Security (MASE) with its Decree no. 450 of 20 December 2024, were aimed at implementing the provisions laid down in the Integrated Text of the Electricity Dispatching Rules (TIDE), and at introducing a compensatory component into the Electricity Market after the replacement of Prezzo Unico Nazionale (PUN – national single price).

As of today, with their publication on GME’s website, also the new updated versions of the Technical Rules related to the ME Rules will take effect. The updated Technical Rules are as follows:

ME

1. Technical Rule no. 01 rev 03 - Holidays
2. Technical Rule no. 03 rev 09 - Loss of Qualifications or Default by the Bank Issuing the Bank Guarantee
3. Technical Rule no. 04 rev 10 - Submission, modification, allocation and return of guarantees
4. Technical Rule no. 05 rev 08 - VAT Taxation in the Electricity Market
5. Technical Rule no. 06 rev 01 - Notifications about the procedure of admission/exclusion to/from the market
6. Technical Rule no. 07 rev 12 - Bid/Offer Adequacy Verifications and Available Amount of Financial Guarantees
7. Technical Rule no. 08 rev 18 - Invoicing of payables/receivables and settlements of payments
8. Technical Rule no. 09 rev 01 - Unit of measurement
9. Technical Rule no. 10 rev 01 - Communication of the ACER code
10. Technical Rule no. 11 - Market time interval and imbalance settlement period

MTE

1. Technical Rule no. 01 rev 06 - Trading Period and Regulation of Contracts in the MTE
2. Technical Rule no. 02 rev 04 - Submission of bids/offers into the MTE
3. Technical Rule no. 03 rev 04 - Price and Quantity Limits
4. Technical Rule no. 04 rev 01 - Reference price
5. Technical Rule no. 05 rev 2 - Closing of contractual positions upon default

MPE

1. Technical Rule no. 01 rev 03 - Solar Time and Daylight Saving Time in the MGP, MI and MSD
2. Technical Rule no. 02 rev 5 - Management of Emergency Conditions in the MGP, MI, PN and MSD
3. Technical Rule no. 03 rev 12 - Timing of activities for the sessions of the MGP, MI, MSD and for the Nomination Platform
4. Technical Rule no. 04 rev 6 - Submission of Bids/Offers
5. Technical Rule no. 05 rev 3 - Products tradable in the MGP and MI, number of multiple bids/offers in the MGP, MI-A and MSD and maximum number of block bids/offers in the MGP and MI-A
6. Technical Rule no. 08 rev 3 - Methods for calculating the margins for the purposes of the MGP and MI by GME in the event of non-receipt
7. Technical Rule no. 10 rev 4 - Checks of technical adequacy of bids/offers with respect to margins
8. Technical Rule no. 11 rev 8 - Definition of Conventional Prices
9. Technical Rule no. 13 rev 1 - Reopening of the MGP sitting
10. Technical Rule no. 14 rev 1 - Defining the results of the MGP and MI
11. Technical Rule no. 15 rev 2 - Non-performance of market coupling
12. Technical Rule no. 17 rev 1 - Daily products tradable in the MPEG and trading period
13. Technical Rule no. 18 rev 2 - How to submit offers/bids into the MPEG
14. Technical Rule no. 19 rev 1 - Booking of margins for forward accounts on the PCE and registration of net delivery positions
15. Technical Rule no. 20 rev 3 - Technical limits of bids/offers in the MGP, MI and MSD
16. Technical Rule no. 21 rev 1 - Procedures for submitting requests for registration of nominations
17. Technical Rule no. 22 rev 1 - Verification of validity and adequacy of requests for registration of nominations, determination and communication of nominations
18. Technical Rule no. 23 - Units and aggregations of units for injection, withdrawal, and provision of ancillary and redispatching services
19. Technical Rule no. 24 - Creation of zonal portfolios
20. Technical Rule no. 25 - PUN Index GME

Further to its communication of 19 December 2024, GME informs market participants that, as of today, the amendments to the Rules Governing the Forward Account Registration Platform (hereafter PCE Rules) and to the related Technical Rules – approved by the Regulatory Authority for Energy, Networks and Environment (ARERA) with its Resolution 552/2024/R/eel – will go into force. The amended Technical Rules are as follows:

1. Technical Rule no. 01 rev 02 - Access to the Information System
2. Technical Rule no. 02 rev 01 - Communications between GME and Participants under emergency conditions
3. Technical Rule no. 03 rev 06 - Registration of transactions and CET bids/offers
4. Technical Rule no. 04 rev 06 - Validation, technical adequacy verifications, and available amount of the financial guarantee
5. Technical Rule no. 05 rev 01 - Priority order of requests for registering CET bids/offers
6. Technical Rule no. 06 rev 17 - Time limits, terms and conditions for invoicing and settlement of payments
7. Technical Rule no. 07 rev 02 - Criteria for determining the estimated transmission capacity fee (CCT)
8. Technical Rule no. 08 rev 01 - Default interest and penalty
9. Technical Rule no. 09 rev 01 - Guarantees towards Terna
10. Technical Rule no. 10 rev 07 - Submission and return of guarantees
11. Technical Rule no. 11 rev 04 - Loss of qualifications or failure to fulfil obligations by the bank issuing the bank guarantee
12. Technical Rule no. 12 - Holidays
13. Technical Rule no. 13 - Market Time Interval
14. Technical Rule no. 14 - Units of measurement

GME informs market participants that the Ministry of Environment and Energy Security (MASE) has issued Decree no. 450 of 20/12/2024 (published on the website of MASE) approving the following amendments to the Integrated Text of the Electricity Market Rules (ME Rules), the Integrated Text of the Natural-Gas Market Rules (MGAS Rules), and the Regulations of the Platform for the Trading of Bids/Offers of Natural Gas (P-GAS Regulations):

1. urgent amendments to the MGAS Rules, adopted in accordance with Art. 3.6 of the same Rules, entered into force on 30 January 2024, and concerning the elimination of “bids/offers without a price limit”;
2. urgent amendments to the ME Rules, MGAS Rules, and P-GAS Regulations, adopted in accordance with Arts. 3.5 and 3.6 of the same Rules, entered into force on 1 October 2024 and aimed at complying with Regulation (EU) 2024/1106 as regards improving the Union’s protection against market manipulation on the wholesale energy market;
3. amendments to the ME Rules, adopted in accordance with Arts. 3.4 and 3.5 of the same Rules, in order to incorporate - with effect from 1 January 2025, day of flow of the Electricity Market - the provisions introduced by ARERA with its Resolution 345/2023/R/EEL, as subsequently amended and supplemented, concerning the new Integrated Text of the Electricity Dispatching Rules (TIDE), and the further provisions laid down in Decree no.151/2004 of MASE regarding: i) the valuing of demand bids in the Day-Ahead Market (MGP) at zonal prices; ii) the calculation of the reference price of electricity traded in the MGP; and iii) the introduction of the compensatory component as a result of the replacement of national single price (“prezzo unico nazionale”).

With a view to facilitating the implementation of the new provisions by market participants as of the day of flow 1 January 2025 (i.e. go-live of TIDE and replacement of the national single price), and following up on its communication of 1 August 2024, GME reminds market participants that the updated version of the ME Rules, as approved pursuant to the above-mentioned decree, is available, for informational purposes only, in the “TIDE” section of its website .

However, until the date of effect of the new provisions indicated above, transactions in the Electricity Market will continue to be governed by the current provisions published in the appropriate sections of GME’s website.

GME informs market participants that, with Resolution 552/2024/R/eel of 17 December 2024, ARERA has approved the following amendments:  

i.      to the Rules Governing the Forward Account Trading Platform (PCE Rules), made by Gestore dei Mercati Energetici S.p.A. (GME) under art. 3, paras. 3.5 and 3.6 of the PCE Rules;

ii.      to the Technical Rules of the PCE, made by GME under art. 4, para. 4.4 of the PCE Rules.

In particular, the above-mentioned amendments to the PCE Rules and to the related Technical Rules, which will enter into force on the day of flow 1 January 2025, are aimed at implementing, the provisions of the new Integrated Text of the Electricity Dispatching Rules (TIDE) - adopted by ARERA with its Resolution 345/2023/R/EEL, as subsequently amended and supplemented – as well the further provisions adopted by ARERA with its Resolution 304/2024/R/EEL, on the introduction of a compensatory component into the Electricity Market following the replacement of national single price (i.e. prezzo unico nazionale).

In this regard, in order to facilitate the implementation of the new provisions (i.e. go-live of TIDE and replacement of the national single price) by PCE participants, GME has published the updated versions of both the PCE Rules and the related Technical Rules, for informational purposes only, in the TIDE section of its website.

However, until the above-mentioned go-live date (i.e. flow date 1 January 2025), transactions on the PCE will continue to be governed by the current provisions published in the appropriate sections of GME’s website.  

GME reminds its users that its historical website (https://storico.mercatoelettrico.org) will no longer be accessible from 31 December 2024.

Therefore, GME invites all users who have not done so yet to familiarise themselves with the NEW WEBSITE, which will become GME's single reference portal, accessible from both https://www.mercatoelettrico.org/  and  https://gme.mercatoelettrico.org. 

In support of navigation, the Footer on each page of the website will display not only the Site Map but also the item How to browse GME's new website, which will redirect to a FAQ page useful to find new ways to explore different kinds of content.

NEW SITE VIDEO

With reference to the implementation of the provisions of TIDE, GME, jointly with Terna, informs market participants that:

1. the go-live is confirmed on 1 January 2025 (flow date);
2. to enable the alignment of market platforms and procedures with the new regulatory framework, while ensuring maximum operational security, the   timeline of market sessions and activities on 30 December 2024 and 31 December 2024 will be changed, as indicated in GME-TERNA SWITCHING PLAN presented below;
3. additional operational measures will be adopted for the switching to the new regulatory framework introduced by TIDE.

GME-TERNA SWITCHING PLAN

On the calendar day 30 December 2024, the PCE will be out of service from 15:00 to 17:00 to enable system updates in line with the new regulatory framework of TIDE.

On the calendar day 31 December 2024:

1) the following market sessions and activities, pertaining to the same flow date 31 December 2024, will be cancelled:

2) the IPEX platform (MGP, MI-A, MSD, and MB) will be out of service from 03:00 to 7:00 to enable system updates in line with the new regulatory framework of TIDE; starting from 07:00, the platform will become operational again for all the activities related to the flow date 1 January 2025 or later;

3) the MI-XBID and PN platforms will be out of service from 02:00 to 13:00 to enable system updates in line with the new regulatory framework of TIDE; starting from 13:00, the platform will become operational again for all the activities related to the flow date 1 January 2025.

All market sessions and activities not falling within the unavailability periods mentioned in the previous points 2) and 3) will be held as usual in accordance with the timings and the ordinary procedures indicated in the Integrated Text of the Electricity Market Rules, the PCE Rules, and the related Technical Rules.

ADDITIONAL OPERATIONAL MEASURES

Bids/offers and other information entered by market participants on the market platforms before 31 December 2024 and pertaining to the flow date 1 January 2025 or later will remain valid.

However, GME, jointly with Terna, informs market participants that, in order to properly manage the transition to the new regulatory framework introduced by TIDE, the following operational measures will be adopted.

Adoption of the MW as the unit of measurement of quantities, specified with a single decimal

On the MGP, MI-A, MI-XBID, PCE, MSD and MB, beginning on the flow date 1 January 2025, the unit of measurement of quantities covered by bids/offers and margins will be expressed in MW, specified with one decimal place.

Bids/offers related to the MGP, margins related to the MGP, MI-A, and MI-XBID, as well as CET bids/offers and commercial transactions on the PCE already present on the platforms and referring to the flow date 1 January 2025 or later, if bearing a number of decimal places greater than 1, will be handled as follows:

1. bids/offers related to the MGP: the quantities of bids/offers (including predefined ones) submitted before 03:00 on 31 December 2024 (start of unavailability for system upgrades) will be rounded to 1 decimal place according to the mathematical criterion;
2. margins related to the MGP, MI-A, and MI-XBID: the quantities specified in step-up and step-down margins submitted before 03:00 on 31 December (start of unavailability for system upgrades) will be rounded to 1 decimal place according to the mathematical criterion;
3. PCE - CET bids/offers: the quantities of CET bids/offers submitted on the PCE will be rounded to 1 decimal place according to the mathematical criterion;
4. PCE - commercial transactions already confirmed: the quantities of commercial transactions confirmed before 15:00 on 30 December (start of unavailability for system upgrades) will not be rounded to 1 decimal place. In these cases, an imbalance will occur with respect to the schedule, because in the corresponding sessions of the MGP it will not be possible to accept CET bids/offers specifying a quantity in MW with a number of decimal places higher than 1;
5. PCE - commercial transactions not yet confirmed: the quantities of commercial transactions that have been submitted but not confirmed before 15:00 on 30 December (start of unavailability for system upgrades) cannot be confirmed after this deadline (NB: only in case quantities have a number of decimal places higher than 1). In this case, such transactions will have to be revoked by operators.

Switch to the 15-min ISP

1. Predefined bids/offers on the MSD1: predefined bids/offers MSD1 that are present on the market platforms and that have been submitted with an hourly granularity will be automatically converted into corresponding bids/offers having a 15-min granularity, with the purpose of executing the sessions related to the flow date 1 January or later. Consequently, each predefined bid/offer related to a single hour “h” will be automatically replaced with 4 bids/offers (each of them referring to one quarter-hour included in the reference hour “h”) with the same price and the same quantity of capacity as the predefined bid/offer (e.g. a 10 MWh bid/offer related to one hour “h” will be replaced with 4 bids/offers of 10 MW for each quarter-hour, equivalent to a quantity of energy of 2.5 MWh in each quarter-hour). However, starting from 07:00 on 31 December (end of unavailability for system upgrades), each participant (BSP) will be able to change, revoke, and/or submit new pre-defined bids/offers on the MSD1 with a 15-min granularity related to the flow date 1 January 2025 or later;
2. TERRE Platform: starting from the flow date 1 January 2025, the operational participation in the TERRE platform will be suspended, in compliance with ARERA Resolution 449/2024/R/EEL.

GME and Terna reserve the right to communicate any change to the above-mentioned switching plan via their usual communication channels.

Finally, GME reminds ME and PCE participants that the set of the main documents aligned with the new TIDE provisions has been published for informational purposes only, in the TIDE section of its website, in order to facilitate market participants with the implementation of the new provisions.

For additional information, please write to:salamercato@mercatoelettrico.orgproveisp15@terna.it

In view of the entry into force of TIDE on 1 January 2025, GME announces that, in the TIDE section of its website, it has published, for informational purposes only, the set of the main documents. The documents, which have been appropriately revised, are intended to facilitate the implementation of the new provisions by Participants in the Electricity Market (ME) and in the Forward Account Registration Platform (PCE).

The above-mentioned supporting documents will remain available in the TIDE section until the entry into force of TIDE (1 January 2025). On the latter date, the documents will be published in the respective sections of GME’s website.

The TIDE section also features the information and documents that are necessary to submit ME and PCE delegations to GME with validity from 1 January 2025.

Following some reports received by telephone and email to Gestore dei Mercati Energetici S.p.A. ("GME"), it seems that these telephone calls are made by a supposed "GME Office" and/or so-called GME operators, regarding proposals to change the electricity and/or gas supplier due to increases in cost of energy, not properly specified, or problems in the current supply, which were followed, in some cases, by emails with similar content.

It should be remembered that GME is completely unrelated to the event mentioned above. We would like to clearly state that we do not provide, in any way, commercial services such as those described above. Furthermore, we do not use communication methods with our clients such as those outlined above.

When in doubt, we always suggest to make sure of the above by contacting your current electricity and/or gas supplier according to the contact methods made available by the same. In any case, we suggest to avoid any possible follow up about proposals such as those highlighted above, in order not to face any unpleasant inconveniences.