I think it's all there. The company in questions bid provides ~5800 MW for 24h, paying 203€ to those that use that power. Other companies will have accepted that bid (automatically) and will now tomorrow expect that power to be delivered (and get money for it), while other providers are planning to do something else with their power. The company mentioned may or may not have that much power available.
> "We are working with other market parties to solve this extreme situation," it said.
Sounds like they are working on an agreement with the others to avoid their mistake turning out to be as costly as that.
It’s probably in the interest of all of the participants that this is resolved with a less costly outcome. After all, who knows which of them will be the one making a similar mistake next time. It’ll be good for them then, if they played nicely now as that can inspire how future happenings will play out.
this is similar to how knight capital lost 440 million us dollars one afternoon in a trading bot bug and had to get merged with one of their competitors. this isn't quite that big
