In relation to the launch of the cross-border intraday (XBID) project on the Dutch-Norwegian interconnector (NorNed) 14 March 2012, there will be an amendment to Appendix 2b in the General Terms, Elbas Market Regulations.
The amendment handles cancellation of transactions in the event of an erroneous trade when the counterpart to the trade is a member trading in the Dutch or Belgian Elbas areas. There will be an additional section 3.1.5 as follows:
If the other party to the transaction is a member in an Elbas area operated by a market operator/power exchange other than Nord Pool Spot, the transaction can only be cancelled with the agreement from the other party, independent of whether the complaint is in accordance with Sections 3.1.1 – 3.1.3
The current sections 3.1.5 – 3.1.7 will become 3.1.6 – 3.1.8 respectively.
Appendix 2b – Elbas Market Regulations may be found here.
About Nord Pool Spot
Nord Pool Spot runs the leading power market in Europe and offers both day-ahead and intraday markets to its members. 350 companies from 20 countries trade on the market. The Nord Pool Spot group has offices in Oslo, Stockholm, Helsinki, Copenhagen, Tallinn and London. In 2011 the group had a total turnover of 316 TWh, which includes the auction volume in the UK market N2EX.
Lysaker, 29 February 2012
For further information, please contact:
Stina Johansen, Communications Manager Nordic, +47 916 50 603