The growth in volume is a result of increased usage by existing participants, as well as a steady flow of new participants, especially energy companies from Germany and adjoining markets.
The volume traded on Elbas is predicted to develop at accelerated speed during 2010 for three main reasons:
- With an increase of wind power production, prediction in the day-ahead market will continue to be uncertain, making the intraday market a more important tool to adjust imbalance.
- Norway joined Elbas last year, providing a number of hydropower companies access to counterparts from the whole Nordic and German intraday market.
- The German Elbas market provides an alternative for power companies trading in the balancing market as well as the national intraday market.
- We are very pleased to see that 2010 promises to be yet another year of turnover records in Elbas. As the only cross-border intraday market in Europe we can provide our customers with counterparts from the whole Nordic region, in Germany, with new areas in the pipeline”, Hans Randen, director trading at Nord Pool Spot comments.
As of today, 87 participants are active on the Elbas market.
Vattenfall AB, E.ON Energy Trading SE and Fortum Power and Heat Oy are market makers in Sweden and Finland, providing prices on the intraday market.
About Elbas – the only cross-border intraday market in Europe
Elbas was launched in 1999 and is an electronic trading platform providing continuous trading of energy contracts. Up to one hour prior to delivery, Elbas facilitates trading of one-hour energy contracts or tailor-made block bids. The participants are producers, energy intensive industries, portfolio managers and traders. As the only market, Elbas manages cross-border flows and capacities across all of Denmark, Finland, Germany, Norway and Sweden.
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) and London. Nord Pool Spot is owned by the Nordic transmission system operators. In 2009 the group had a turnover of 287 TWh representing a value of EUR 10.8 billion.
Lysaker, 16.06.2010 14:00 CET
For further information, please contact Nord Pool Spot:
Hans Randen, director trading, phone +47 671 09 170
Siw Hauge, director communications, phone + 47 90 61 59 92