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
  • Market data
    • Nord Pool day-ahead
      • Prices
      • Volumes
      • Capacities
      • Flow
    • Nord Pool intraday
      • Market data
      • Volumes
      • Initial capacity
      • Transmission capacity
      • SEM-GB intraday auction UK
    • Nord Pool UK
      • Prices
      • Block prices
      • Volumes
      • Capacities
      • Flow
      • Exchange rates
      • Half hourly prices
      • Half hourly block prices
      • Half hourly volumes
    • Regulating power
      • Regulating power per area
      • Regulating prices
      • Regulating volumes
      • Volume of regulating bids
      • Special regulation volume
      • Automatic activated reserve
    • Power system data
      • Production
      • Consumption
      • Exchange
      • Hydro Reservoir
    • Maps
      • Day-ahead overview
    • Data downloads
      • Aggregated Market Data
      • System Price Curve Data
      • Recalculated Nordic System Price
      • Nord Pool Report on the Nordic System Price
  • Trading
    • Join our markets
      • Becoming a customer
      • Membership list
      • Market Managers
    • 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
      • Margin model
    • API
      • ISV partners
    • Rules and regulations
    • Market surveillance
      • Market Surveillance Quarterly Newsletter
      • Expert reports
    • Customers have their say
  • Services
    • Power Data Services
      • Day-Ahead Market Data
      • Aggregated Bidding Curves
      • Intraday Market Data
      • Intraday Hub2Hub
      • Data Portal
      • Electricity retailers
      • Other products
      • FAQ
      • Inquire and Order
    • Compliance
      • REMIT UMM
      • REMIT transaction reporting service
      • REMIT Best Practice Report
    • Consulting
      • Recent projects
    • Nord Pool Academy
      • Nord Pool Certified Compliance Course
      • Nord Pool Day-ahead course
      • Nord Pool Intraday course
      • Nord Pool Certified Compliance Course online
  • Media
    • Media contacts
      • Media contacts
    • Newsroom
      • News
      • Newsletter
      • Market Surveillance Newsletter
      • TSO news
      • Subscribe
      • Feature
    • Photos
    • Annual report
Log in
Log in
Media contacts
  • Media contacts
Newsroom
  • News
  • Newsletter
  • Market Surveillance Newsletter
  • TSO news
  • Subscribe
  • Feature
Photos
Annual report
Back to listings
31 May 2011 16:35

No. 33/2011 - Euro official currency for Elspot trading from 1 October 2011

From 1 October 2011, Euro will be the official trading currency for the Nordic day-ahead market Elspot. It will still be possible for customers at Nord Pool Spot to submit orders and receive settlement in the Nordic currencies, as well as in Euro, as Nord Pool Spot will offer a currency service.

The change will result in a quicker price calculation and publication of prices. The change is also amongst others triggered by Nord Pool Spot’s preparing for price coupling with continental Europe, where all bids have to be firm in the first price run.

The change implies that Nord Pool Spot will convert orders from local currency to Euro only once, based on a preliminary exchange rate fetched from the bank as close as possible to gate closure. Bid matching and price calculation are then performed and prices in Euro and participant programs are regarded as firm. The currency hedging is then performed for the amounts in local currencies and the official settlement prices in NOK, SEK and DKK are calculated based on the final currency rate obtained when hedging.

For customers submitting orders and trading in Elspot in Euro, this change will have no effect. Customers who wish may still trade in Elspot in one of the Nordic currencies – NOK, SEK or DKK. Nord Pool Spot will offer a currency service, or an equivalent service can be chosen from any other financial institution.

Currency service
Nord Pool Spot will convert customer’s bids to Euro and get the settlement in local currency. The currency fee will be a factor of 0,0002 (i.e. 0.02%) on the amount in NOK, SEK or DKK exchanged for a customer per day. The fee compensates for the exposure and administration of Nord Pool Spot for handling the currency service. Customers who do not wish to use this service from Nord Pool Spot are free to handle conversion from local currency to EUR through their settlement bank or any other financial institution of their choice.

There are no technical changes required in our customers’ systems.

Nord Pool Spot will still publish official prices in NOK, SEK and DKK, as well as in Euro.

About Nord Pool Spot
Nord Pool Spot runs the leading power market in Europe and offers both day-ahead and intraday markets to its customers. 350 companies from 18 countries trade on the market. The Nord Pool Spot group has offices in Oslo, Stockholm, Helsinki, Copenhagen, Tallinn and London. In 2010 the group had a total turnover of 310 TWh, which includes the auction volume in the UK market N2EX.

Lysaker, 31 May 2011 16:35 CET

For further information, please contact Nord Pool Spot:
Stina Johansen, Communications manager Nordic, +47 916 50 603


Previous message 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
  • Regulating power
  • Power system data
  • Maps

Trading

  • Join our markets
  • Operational messages
  • Day-ahead trading
  • Intraday trading
  • Clearing
  • API
  • Rules & regulations
  • Market surveillance
  • Customer information on Brexit
  • 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
  • Meet our people
  • 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