THE DAY-AHEAD
MARKET (MGP)
This is where producers, wholesalers, end customers, the Acquirente Unico (AU) and the Gestore dei Servizi Energetici (GSE) buy and sell quantities of electricity for the following day on a wholesale basis.
THE INTRA-DAY
MARKET (MI)
This has the same role as the MGP: both the MGP and the MI are coordinated by the Gestore dei Servizi Energetici (GSE) and define the balance prices for the trading of electricity.
BALANCING
MARKET (MB)
This covers all the activities performed by Terna to select the offers presented by other operators on the MSD, resolve grid congestion, and establish the secondary and tertiary power reserve margins.
DISPATCHING SERVICES
MARKET (MSD)
On this market, Terna procures all the resources it needs for the secure management and control of the Italian electricity system; i.e. for the resolution of intra-zonal congestion, for the creation of the so-called energy reserve, and for the real-time balancing of electricity flows on the transmission grid.
TRANS EUROPEAN REPLACEMENT RESERVES EXCHANGE (TERRE)
This is the European platform for the exchange of the so-called “replacement reserve for electricity balancing”. It allows transmission system operators to procure and activate energy reserves to correct any imbalances in their national electricity systems.