This site uses cookies to offer you a better browsing experience. Find out more on how we use cookies and how you can change your settings.

Nord Pool logo
Nord Pool logo
  • Trading
    • Join our markets
      • Contact us
      • Becoming a customer
      • Membership list
    • Operational messages
    • Day-ahead trading
      • Order types
      • Price calculation
      • Preliminary prices and exchange rates
      • Capacities
      • Ramping
      • Loss functionality
      • Curtailment, price thresholds and decoupling
    • Intraday trading
      • Order types
      • Capacities
    • Clearing
      • Settlement
      • Collateral
      • Trading Models
    • API
      • ISV partners
    • Rules and regulations
    • Market surveillance
      • Market Surveillance Newsletter
      • Expert reports
    • Intraday Auctions
    • Nordic Flow-Based Day-Ahead Market Coupling
      • Impact of Nordic Flow-Based on the Nordic System Price
      • System price results
    • Transition to 15-minute Market Time Unit (MTU)
      • FAQ
    • EPAD auctions
    • Euronext Nord Pool Power Futures
  • Services
    • Power Data Services
      • Day-Ahead Market Data
      • Aggregated Bidding Curves
      • Intraday Market Data
      • Intraday Hub2Hub
      • New Data Portal
      • Electricity retailers
      • Data Portal inquiry
      • Other products
      • FAQ
      • Inquire and Order
    • Compliance
      • REMIT UMM
      • REMIT transaction reporting service
      • REMIT Best Practice Report
    • Consulting
      • Key Stakeholders
      • Consultancy services
      • Recent projects
    • Nord Pool Academy
      • Course Portfolio
      • The Physical and Financial Power Markets Course 11 and 12 June 2025
      • Flow-Based in Depth Course
      • Nord Pool Certified Compliance Course - 8 May 2025
      • Nord Pool Certified Compliance Course 18 June 2025 – LIVE!
      • Nord Pool Certified Day-Ahead Trader Course
      • Customer Reviews
  • Media
    • Newsroom
      • Press releases
      • Newsletters
      • Market Surveillance Newsletters
      • TSO news
      • Whitepapers
      • Articles
      • Subscribe to Press releases
      • Subscribe to Updates
    • Events
      • On-demand webinars
      • Euronext Nord Pool Power Futures – EUA testing Webinar
      • Danish Regional Meeting
      • SDAC 15 Minutes MTU Webinar
    • Photos
    • Annual report
    • Media contacts
  • About us
    • Our business
    • Organisation
      • CEO
      • Strategy & Products
      • Operations, Risk, Clearing & Settlement and HR
      • Public Affairs, Communication & Marketing
      • Legal, Regulatory & Market Coupling Operation
      • Product Development & Innovation
      • Nordic, Baltic & UK​
      • Western & Central Europe
      • Board of Directors
    • Careers
    • History
    • Terms and conditions for use of website
    • Control cookies
    • ESG
      • Product offerings
      • The Norwegian Transparency Act
      • Social
      • Governance
  • Market data
Newsroom
  • Press releases
  • Newsletters
  • Market Surveillance Newsletters
  • TSO news
  • Whitepapers
  • Articles
  • Subscribe to Press releases
  • Subscribe to Updates
Events
  • On-demand webinars
  • Euronext Nord Pool Power Futures – EUA testing Webinar
  • Danish Regional Meeting
  • SDAC 15 Minutes MTU Webinar
Photos
Annual report
Media contacts
Back to listings
30 January 2009 09:24

No. 13/2009 Nord Pool Spot Elspot price calculation for 7 January 2009

On 6 January 2009, shortly after the distribution of the Elspot results, Nord Pool Spot was notified by Dong Energy that they had not received their Elspot results for 7 January. From further dialogue and review of the trading system logs, it was established that a mistake had unfortunately been made by Dong Energy when submitting their bid in SESAM.

Shortly thereafter Nord Pool Spot concluded, pursuant to the current Elspot Rulebook, that a recalculation of the Elspot prices was not an option. This conclusion was communicated to Dong Energy. Pursuant to the Rulebook, a distinction is made between mistakes made by Nord Pool Spot and mistakes made by the participant(s). The Rulebook provides for a recalculation of prices in events of mistakes made by Nord Pool Spot, and not mistakes made by participants.

Further investigations proved that the bid submitted by Dong Energy was empty, i.e. the bid did not contain any values. The bid was not detected in the system’s logical check. Neither was the bid detected in the manual checks carried out at the Nord Pool Spot trading desk.

DONG Energy was in dialogue with Nord Pool Spot during the day regarding the incident. The incident was made public by Dong Energy as an urgent market message (UMM) at 15.36 CET as required according to Nord Pool Spot regulations. Nord Pool Spot acknowledges that this was late, and will seek to ensure that the market is informed at an earlier stage should similar incidents occur in the future.

The responsibility for the correctness of their bids lies with the participants. Nord Pool Spot does however wish to contribute to minimising the risk of errors to the extent possible. After the incident, Nord Pool Spot has focused on minimising the risk of similar mistakes, and has made the following action list:

  • Evaluation of the Rulebook, focusing on complaints and recalculation of prices;
  • Improvement of the logical checks in the trading system; and
  • Evaluation and improvement of internal routines for controlling of bids, handling of erroneous bids and ensuring timely information to the market.


Lysaker, 30 January 2009

 

For further information, please contact Nord Pool Spot:


Åsmund Drivenes, acting director trading, phone +47 6752 8036, [email protected]


Next message

Choose quarter

{{ group.year }}

  • ({{ period.count }})
Nord Pool logo

    Nord Pool AS

    Tel. +47 6710 9100

    P.O. Box 121

    1325 Lysaker, Norway

Market Data

  • Day-ahead
  • Intraday
  • Power system data
  • Map

Trading

  • Join our markets
  • Operational messages
  • Day-ahead trading
  • Intraday trading
  • Clearing
  • API
  • Rules & regulations
  • Market surveillance
  • Customers have their say

Services

  • Premium Data Services
  • Compliance
  • Consulting
  • Nord Pool Academy
  • German mini-site
  • French mini-site

The Power Market

  • Day-ahead market
  • Intraday market
  • CACM regulation
  • Benchmark regulation - Nordic system price
  • Market members
  • Bidding areas

Social media

Quick links

  • UMM
  • Auction
  • Intraday Web
  • CASS
  • Intraday and GB Half Hourly auctions

Media

  • Press
  • Newsroom
  • Annual report
  • Download center

About us

  • Careers
  • Advisory board
  • History
  • Organisation
  • Corporate Compliance Policy
  • Control cookies

Contact us

  • Norway
  • Sweden
  • Finland
  • Estonia
  • UK
  • Germany

© Nord Pool 2020 | Imprint, Data Policy, Legal Notice, How We Treat Personal Data