Day-ahead trades | How to trade | КОРЭМ
Joint-Stock Company Kazakhstan electricity and power market operator

Day-ahead trades

1 DAY
Applications for the purchase and sale of electric energy are submitted before 11: 00 a.m. Nur-Sultan time. Participants have the right to change and/or delete previously submitted orders. Buyers are required to deposit money to the servicing bank to pay for their obligations.
11:00 a.m.

Automatic blocking of applications

Calculation of clearing prices

Verification by the operator of the centralized trading market of the availability of sufficient funds on the special account of buyers

Determining the list of «seller-buyer" pairs»

Reserving the necessary amounts  on special accounts of buyers before the closing of the trading day

11:30 a.m.

Transfer of the auction results to JSC «KEGOC» for technical expertise and inclusion of the auction results in the planned daily schedule of electricity supply/consumption

05:30 p.m.

Receiving confirmation from JSC«KEGOC» that the auction results are included in the planned daily schedule of electricity supply/consumption

Closing of the trading day

Sending notifications about the outcome of the auction to bidders

Reserving the necessary funds on special accounts of buyers for the fulfillment of obligations arising from the results of trading

2 DAY

Supply of electric energy from sellers (energy-producing organizations) to buyers (consumers)

Sending by the operator of the auction to the servicing Bank of the settlement statement with reference to the conduct of mutual settlements between participants on the transactions concluded by them at the auction

Invoices are exchanged between the seller and buyers in accordance with the Code of the Republic of Kazakhstan "On taxes and other mandatory payments to the budget" (Tax code).    

Spot trading in the "day ahead" mode is intended for concluding short-term transactions for the purchase and sale of electric energy between bidders, on a special electronic trading platform, using generally accepted exchange principles and modern Internet technologies.

Spot auctions in the "day ahead" mode are held in the form of an auction. Prices are formed according to the principles of margin pricing.

Applications for the purchase and sale of electric energy are submitted before 11-00 a.m. of Nur-Sultan time of the day preceding the operating day. Any participant of the auction can submit an application for both the purchase and sale of electric energy.

Applications for participation in the auction are submitted using the Internet, as well as by Fax.

Based on the results of trading, "seller-buyer" pairs are formed and hourly clearing prices of transactions are determined.

At the end of the time for accepting applications, the operator of the centralized trading market sends the results of trading to the system operator for approval, indicating the points of accounting for the receipt and release of electric energy to include the volumes of electric energy purchased at spot auctions in the daily schedule for the supply of electric energy consumption in the Republic of Kazakhstan.

All volumes of electricity supply and consumption included in the approved daily schedule of electricity supply and consumption in the Republic of Kazakhstan are recorded by the operator of the centralized trading market as sold and purchased at spot auctions in the "day ahead" mode.

A system of guaranteeing the fulfillment of financial obligations of participants has been introduced at spot auctions in the "day ahead" mode.

Every buyer of electric energy, before submitting an application for purchase, must open a specialized account in the Bank that serves centralized auctions (JSC "Halyk Bank of Kazakhstan"), intended for depositing guarantee funds.

According to the results of trading, the market operator carries out settlement between the participants of the auction.

Every participant of the auction, following the results of the trading day, receives a corresponding notification about the results of the auction.