The European Commission has amended the Annex to Regulation EC 1228/2003 (“Congestion management guidelines”). The European transmission system operators (TSOs) are now obliged to publish several types of information related to the power system. On request from the Nordic TSOs, Nord Pool Spot AS and Nord Pool ASA have agreed to make changes to the existing disclosure regime.
As informed in exchange information no. 70/2006 the disclosure rules at Nord Pool Spot and Nord Pool ASA will be revised in order to comply with provision 5.5. (i) of this Annex. This means lowering the disclosure limit of failures and short term plans for maintenance or limitations from 200 MW to 100 MW.
To ensure equal treatment of all market participants the Nord Pool group has decided to implement similar rules for production, transmission and consumption plants/facilities, which is in line with today’s practice.
The implementation will take place in 2 phases, and the revised information disclosure requirements will apply for production plants and transmission facilities from 8 January, and for consumption facilities from 1 March 2007.
The amount of information released to the market as well as the work load for some market participants will increase as a consequence of the new regulation. During the first quarter of 2007, Nord Pool will continuously evaluate the reporting mechanisms and the web presentation for improvements. Nord Pool will also offer assistance to market participants not familiar with the current information disclosure requirements and routines.
The definition of insider information will follow the information disclosure requirements as today unless exempted by the financial authorities. Nord Pool have been in contact with and will forward an inquiry to the financial supervisory authorities of Norway (Kredittilsynet) regarding possible transitional arrangements in which we keep the definition of inside information at today’s level in the financial market.
For detailed information about the new regulation, implementation plan and effects for market participants in the Nordic power market and changes in the disclosure rules, see attachment:
Lysaker, 20 December 2006
For further information, please contact Nord Pool Spot:
Rickard Nilsson, project manager, Nord Pool Spot AS, phone: + 46 739 81 89 65
Marianne W. Jenssen, senior vice president, Nord Pool ASA - financial market, phone: +47 67 52 80 76
Robert Lillefloth, head of market surveillance, phone: +47 67 52 80 34/19
Media inquiries:
Lars Galtung, vice president communications, phone +47 67 52 80 80