Price Coupling
of Regions (PCR)
Price Coupling of Regions (PCR) is the initiative launched in 2009 by eight European power exchanges - EPEX SPOT, GME, HEnEx, Nord Pool, OMIE, OPCOM, OTE and TGE - to develop a single price coupling solution aimed at calculation of electricity prices across Europe and the allocation of interconnection capacity on the day-ahead market. This is crucial in order to achieve the goal of a harmonized electricity market across the EU area. An integrated electricity market on a European scale increases liquidity, efficiency and social well-being. PCR is open to all other European power exchanges wishing to join.
One of the key elements of the PCR is the development of a single coupling algorithm which takes the name of Euphemia (acronym of Pan-European Hybrid Electricity Market Integration Algorithm). It is used to calculate energy allocation and prices in Europe, maximizing general welfare and increasing transparency in the calculation of prices and flows.
More information here: EUPHEMIA Public Description