- Day-ahead market
- The auction where electricity for each hour or quarter-hour of tomorrow is bought and sold, cleared once per day after the gate closes.
- Gate closure
- The deadline for submitting day-ahead orders. On MEMO (North Macedonia) it is 10:00 local time; the SDAC-coupled markets such as HUPX, SEEPEX, OPCOM, IBEX, HEnEx and Germany close at 12:00 CET.
- Nomination
- The schedule of energy a producer commits to deliver for each period. Deviations from it settle as imbalance.
- Imbalance settlement
- The charge or payment for the difference between nominated and delivered energy, priced by the transmission system operator after the fact.
- BRP (balance responsible party)
- The market participant financially responsible for a portfolio's imbalances. A plant owner can be its own BRP or use one; DYNVOLT prepares the plan and the BRP submits it.
- Intraday market
- Trading after the day-ahead auction and up to shortly before delivery, through intraday auctions or continuous trading, used to correct positions as forecasts improve.
- MEMO
- The Macedonian electricity market operator, which runs the day-ahead market for North Macedonia.