Day-Ahead / Intraday / Balancing Power Markets: Positioning Strategies for HPP Operators

## Three Markets, Three Different Purposes In the Turkish electricity market, a power plant earns revenue from three different organized markets: the Day-Ahead Market (GÖP), the Intraday Market (GİP), and the Balancing Power Market (DGP). Each has a different purpose and time frame, which is why it's critical for an HPP operator to know how to bring all three together into a single strategy. ## GÖP: Where the Core Plan Is Built GÖP is where hourly trading takes place one day before physical delivery, and where the reference PTF for the entire market is determined. For hydropower, the logic is simple: if prices are expected to be high at certain hours the next day, it's advantageous to direct water flow to those hours. However, if flow is uncertain or there's equipment-related risk, concentrating the entire position in GÖP increases deviation risk. ## GİP: Correcting With New Information During the Day Addressing supply-demand imbalances that emerge after GÖP closes is GİP's job. In this continuously traded market, positions can be updated up until a certain point before delivery. For HPP operators, GİP is an opportunity to "correct" the position taken in GÖP using updated water flow and weather data. ## DGP: Optional Revenue and Operational Flexibility DGP is a mechanism used to maintain real-time system balance and requires reserve capacity that can be activated within a short window. This isn't suitable for every plant — but for plants with high operational flexibility, it can serve as an additional revenue stream. ## A Practical Strategy: Core + Correction + Optional The recommended approach in practice can be summarized as: build the core plan in GÖP, refine it during the day with new information via GİP, and treat DGP as an optional revenue source if operational flexibility allows. This three-layer structure both spreads risk and enables more effective use of pricing opportunities across the markets. ## The Role of Data For this strategy to work, decisions in all three markets need to be based on current, accurate data. HYDROWISE's real-time water flow forecasting and production projections are designed precisely to meet this need — so plant operators can answer "how much of a position should I take in which market today" with a data-driven answer.