What is BS EN IEC 62325‑503 - Framework for energy market communications about?
BS EN IEC 62325 is a series on a framework for energy market communications. Framework for energy market communications refers to the use of different marketing channels and tools in combination. BS EN IEC 62325‑503 specifies a standard for a communication platform that every Transmission System Operator (TSO) in Europe can use to exchange reliably and securely documents for the energy market. Consequently, a European market participant (TSO, regional supervision centre, distribution utility, power exchange, etc.) could benefit from a single, common, harmonised, and secure platform for message exchange with other participants; thus, reducing the cost of building different information technology (IT) platforms to interface with all the parties involved. “MADES” (Market Data Exchange Standard) is the acronym to designate BS EN IEC 62325‑503. The purpose of the Market Data Exchange Standard is to create a secured message exchange standard based on standard communication protocols and utilising IT best practices for exchanging data over any TCP/IP communication network, in order to facilitate business-to-business (B2B) information exchanges.
Who is BS EN IEC 62325‑503 - Framework for energy market communications for?
BS EN IEC 62325‑503 on a framework for energy market communications is useful for:
- Telecommunication sector
- Business management sector
- Administration department
- Distribution sector
- Design engineers
- IT sectors
Why should you use BS EN IEC 62325‑503 - Framework for energy market communications?
BS EN IEC 62325‑503 is for deregulated energy market communications. The principal objective of the IEC 62325 series is to produce documents that facilitate the integration of market application software developed independently by different vendors into a market management system, between market management systems and market participant systems. BS EN IEC 62325‑503 represents an important step in facilitating parties entering into electricity markets other than their national ones; they could use the same or similar information exchange system to participate in more than one market all over Europe.
BS EN IEC 62325‑503 introduces Market Data Exchange Standard which is a specification for a decentralised common communication platform based on international IT standards. Market Data Exchange Standard specifies the software interfaces to exchange electronic documents with peer applications. Such interfaces mainly provide means to send and receive documents using a so-called “Market Data Exchange Standard communication system” (or " Market Data Exchange Standard system" or simply "system"). The sender can request the status of the delivery of a document and the recipient issues a message back, the acknowledgement, when receiving the document. This makes a Market Data Exchange Standard system usable for exchanging documents in business processes requiring reliable delivery. Market Data Exchange Standard also specifies services hidden to the applications such as recipient localisation, recipient connection status, message routing and security. Services include directory, authentication, signing, encryption, message tracking, message logging and message temporary storage. Using BS EN IEC 62325‑503 you can specify a standard for a communication platform that every Transmission System Operator (TSO) in Europe can use to exchange reliably and securely documents for the energy market.
What’s changed since the last update?
BS EN IEC 62325‑503:2018 supersedes PD IEC/TS 62325-503:2014. BS EN IEC 62325‑503:2018 includes some technical changes with respect to PD IEC/TS 62325-503:2014. These include:
- Use of ISO/IEC 19464:2014, Advanced Message Queuing Protocol (AMQP) v1.0 specification
- Splitting of the node described in the IEC TS 62325-503:2014 into a broker that implements the messaging function and a directory
- Increase of operability and resilience of the communication system with the ability for an endpoint to send and receive messages through several brokers
- Benefits of standardisation, performance, and scalability of the AMQP protocol for transferring messages