Introduction of the Volume Allocation Auction (VAA) at EXAA

21.04.2026 

To further strengthen the resilience and efficiency of the European Day-Ahead electricity market, EXAA has introduced the Volume Allocation Auction (VAA) as a fallback mechanism for partial decoupling situations. The implementation follows a joint European initiative by NEMOs, TSOs and NRAs and has been introduced by EXAA in line with other participating market operators across the SDAC framework. The VAA became effective on 21 April 2026 and ensures the continued application of harmonized SDAC prices in the exceptional event that EXAA is temporarily decoupled from the Single Day-Ahead Coupling (SDAC).

 

What is the Volume Allocation Auction (VAA)?

The Volume Allocation Auction (VAA) is a fallback mechanism designed for situations in which EXAA is decoupled from the SDAC while other Nominated Electricity Market Operators (NEMOs) remain coupled. It supports the continued application of uniform market prices across coupled European electricity markets.

 

When is the VAA applied?

The VAA will only be triggered in the exceptional case of a partial decoupling of EXAA from the SDAC. It is not part of the regular market process and will only be used when necessary to maintain orderly market operations.

 

How does the VAA work?

In a partial decoupling event, EXAA will no longer calculate local market prices. Instead, submitted buy and sell orders will be matched against the SDAC prices established by the NEMOs that remain coupled. This approach ensures continued access to harmonized market prices and supports the integrity of the European market coupling framework.

 

What does this mean for Market Participants?

The introduction of the VAA does not affect regular trading activities. Existing products and order types, including 15-minute, 60-minute and block orders, remain unchanged. In the event of a VAA, Market Participants will be informed accordingly and given the opportunity to confirm, amend, add or withdraw orders within the designated timeframe.

 

Why is EXAA introducing the VAA?

The implementation of the VAA is part of a joint European initiative by NEMOs, TSOs and NRAs aimed at ensuring consistent market outcomes even in exceptional decoupling situations. It represents a further step towards enhancing operational robustness, transparency and the resilience of the European electricity market.

 

Where can I find further information?

For additional information regarding the VAA process, please contact the EXAA Trading Team at trading@exaa.at or +43 1 253 72 72-90.