Marketing of Hydro Storage Capacities in Asset-backed Trading without Access to XBID

Short-term Asset-backed trading covers the offer placements in the auctions of system services as well as trading in spot market. The spot market is decomposed into the day-ahead auction and the continuous-time trading in the intraday-market. As the market area Switzerland has not been integrated into the European Cross-Border Intra-Day Platform (XBID) launched in June 2018, Swiss Power Producers have no longer access to the liquidity of the coupled intraday market. This regime will hold as long as there is no agreement with the EU. Yet, the Swiss hydro storage capacities offer still important flexibilities for the market of system services. As the demand for Swiss reserve energy is capped at about 1 TWh, and the competition for system services steadily increases, we investigate proper means to protect the Swiss producers against further losses. This requires the design and valuation of new products for system services to compensate at least partially the missing opportunities due to no access to XBID.