Spain introduced a new national aFRR (automatic Frequency Restoration Reserve) market in November 2024 as a preparatory step, and then fully connected to the PICASSO European platform on 17 June 2025. This shift has reshaped how bids are submitted (including asymmetric bids), how prices form, and where the value lies upward and downward.

Key takeaways

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Does Spain's intraday continuous market have enough liquidity to support algorithmic trading?

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aFRR in Spain: what really changed with PICASSO

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Key takeaways

​Does Spain's intraday continuous market have enough liquidity to support algorithmic trading?

Poland’s battery energy storage buildout outlook

ERCOT Market Outlook Report - Q1 2026

MISO March benchmark: Indiana Hub spreads surged 38% YoY to $288/MW-day

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Does Spain's intraday continuous market have enough liquidity to support algorithmic trading?