PCR - Price Coupling of Regions
Price Coupling of Regions (PCR) is the project of European Power Exchanges to develop a single price coupling solution to be used to calculate electricity prices across Europe respecting the capacity of the relevant network elements on a day-ahead basis. This is crucial in order to achieve the overall EU target of a harmonised 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.
- The common algorithm gives a fair and transparent determination of day-ahead electricity prices and a net position of a bidding area across Europe. The algorithm is developed respecting the specific features of the various power markets across Europe and the electricity network constrains. It optimises the overall welfare and increase transparency.
- The PCR process is based on decentralised sharing of data, providing a robust and resilient operation.
- The PCR Matcher and Broker service enables exchange of anonymised orders and electricity network constrains among the power exchanges to calculate bidding zone prices and other reference prices andnet positions of all included bidding areas.
History:
Project is currently being operated by eight Power Exchanges: EPEX SPOT, GME, HEnEx, Nord Pool, OMIE, OPCOM, OTE and TGE; PCR is used to couple the following countries: Austria, Belgium, Czech Republic, Croatia, Denmark, Estonia, Finland, France, Germany, Hungary, Italy, Ireland, Latvia, Lithuania, Luxembourg, the Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden and UK.
PCR Presentation |
type |
file size |
PCR Presentation_short – Decembrie 2018 |
470 kB |
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| PCR Presentation_detailed – Decembrie 2018 | 433 kB |
One of the key elements of PCR project is the development of a single price coupling algorithm, which adopts the name of EUPHEMIA (acronym of Pan-European Hybrid Electricity Market Integration Algorithm). It is used to calculate energy allocation, net positions and electricity prices across Europe, maximising the overall welfare and increasing the transparency of the computation of prices and power flows resulting in net positions.
Euphemia Documentation |
type |
file size |
Euphemia Public Description – October 2020 |
3 MB |
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Euphemia Public Description – April 2019 |
2 MB |
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Euphemia Public Description – Decembrie 2018 |
2 MB |
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Euphemia Public Presentation – Decembrie 2018 |
778 kB |
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| Release note Euphemia 10.3 – April 2019 | 66 kB |
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.
For more information please see the presentations:
PCR Euphemia Forum presentations |
type |
file size |
1.80 MB |
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Non-uniform pricing and thermal orders for the day-ahead Market |
1.10 MB |