APX-ENDEX, Belpex and Nord Pool Spot have agreed to establish an integrated cross-border intraday market. As announced last December, the market will be implemented in Belgium and the Netherlands including the common border and will be based on the proven ELBAS system already operated in the Nordic countries and Germany.
“This is a unique agreement between the exchanges and constitutes a first step towards a common European intraday market for electricity”, says Mikael Lundin, CEO of Nord Pool Spot. “The cooperation means that the intraday electricity markets in a number of countries will be integrated.”
The new cross-border market is expected to become operational during November 2010 for Belgium-Netherlands, subject to regulatory approval. After the integration of Belpex and APX-ENDEX, the front office will be operated from Brussels during office hours.
The common solution will facilitate a rapid cross-border solution for Belgium and the Netherlands, also suited for other connections like the NorNed cable. Integration of the intra-day markets between central Europe and the Nordic countries is essential to facilitate renewable electricity, combining wind energy and hydro capacity to dampen the fluctuations. The solution will be open to other exchanges, providing an important step towards establishing an integrated European Intraday market”, says Bert den Ouden, CEO of APX-ENDEX.
“The cross-border intraday market will be based on Nord Pool Spot’s Elbas technology, which has a proven and excellent track record in the Nordic and German markets. The solution will be linked to the existing back office settlement, clearing and nomination systems operated by the different exchanges”, says Catherine Vandenborre, CEO of Belpex.
The start of the integration is subject to the necessary approvals. The parties welcome other exchanges to join this intraday initiative in the future, in order to meet the requirements from TSOs and regulators for a co-ordinated intra-day solution.
APX-ENDEX is Europe’s premier provider of power and gas exchange services for the wholesale market, operating transparent platforms for short term and futures trading in the Netherlands, the United Kingdom and Belgium. Established in 1999, APX-ENDEX provides exchange trading, central clearing & settlement and data distribution services. APX-ENDEX has over 300 memberships from more than 15 countries. APX-ENDEX offers benchmark data and provides industry indices.
APX-ENDEX’s offices are located in Amsterdam, London and Nottingham.
For more information please visit www.apxendex.com
Belpex is a leading contributor to the integration of the European electricity markets, accountable for delivering transparent price signals to its participants and the community. Belpex is focused on delivering electricity market services that bring value to its members and the entire Belgian electricity wholesale market.
Belpex provides a trading platform for the negotiation of spot electricity trades and green certificates. Purchase/sale transactions are concluded directly, but anonymously, between the market participants.
For more information please visit www.belpex.be
About Nord Pool Spot
Nord Pool Spot runs the largest electrical energy market in the world, offering both day-ahead and intraday markets to its participants. 330 companies from 20 countries trade on the exchange. The Nord Pool Spot group has offices in Oslo, Helsinki, Stockholm, Fredericia (Denmark), Tallinn and London. Nord Pool Spot is owned by the Nordic transmission system operators. In 2009 the group had a turnover of 288 TWh representing a value of EUR 10.8 billion.
Lysaker, 10 June 2010 11:40 CET
For further information please contact:
Eric-Jan Hadderingh, Head of Communications, phone +31 20 305 4000
Sanna-Maaria Mattila, Communications Officer, phone +31 20 305 4000
Rob Loos, Account Manager, phone + 32 2 5467057
Nord Pool Spot
Karri Mäkelä, Director Operations, phone +358 9 6840 4810
Siw Hauge, Director Communications, phone + 47 90 61 59 92