IDA meaning

IDA means an intraday auction in wholesale electricity markets: a scheduled, time‑boxed auction held within the delivery day that lets generators, suppliers and traders adjust positions after the day‑ahead market. Prices and volumes are determined by uniform‑price auctions on power exchanges (NEMOs), helping manage imbalance risk, integrate variable renewables and allocate available capacity. The term is descriptive rather than a statutory or case‑law label. Its precise meaning and timing are set in exchange rulebooks and market codes. In Ireland and Northern Ireland (the SEM/I‑SEM), Intraday Auctions (often labelled IDA1, IDA2, etc.) are provided for under the SEM Trading and Settlement Code and NEMO rules, aligned with EU electricity market arrangements. In Great Britain (England & Wales and Scotland), intraday auctions are operated by GB NEMOs under their trading rules and regulatory approvals; their schedules and products are domestic and not EU‑coupled. In legal practice, IDA commonly appears in PPAs, route‑to‑market agreements, trading and collateral arrangements, and in references to gate closure, nominations and imbalance pricing under the Balancing and Settlement/Trading and Settlement Codes. Usage and purpose are broadly consistent across England & Wales, Scotland, Northern Ireland and Ireland, but the number and timing of IDAs, coupling and cross‑border implications depend on the...