Nord Pool Spot has done a review of the Market Conduct Rules (Trading Appendix 5) in order to ensure that they are updated and adequate according to REMIT (REGULATION (EU) No 1227/2011 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL of 25 October 2011 on wholesale energy market integrity and transparency).
Most of Nord Pool Spot’s members are obliged to comply with REMIT. Therefore, Nord Pool Spot has aligned the Market Conduct Rules with REMIT to make it as clear and simple as possible for our members to follow the different regulations for trading at Nord Pool Spot’s markets. Nord Pool Spot also wants to ensure uniform conditions for our members trading at Nord Pool Spot. Since REMIT is still not implemented in Norway, Nord Pool Spot has found it important that the Market Conduct Rules are aligned with REMIT so that all members, including those trading in Norway, have to follow the same type of regime as that imposed by REMIT.
The new version of the Market Conduct Rules has been discussed with members through Nord Pool Spot’s Customer Advisory Board. In addition to being treated in Customer Advisory Board meetings, there has been held a specific workshop explaining the reasons for the specific clauses in the revised Market Conduct Rules. The Customer Advisory Board has also been given the opportunity to comment the revised Market Conduct Rules in writing prior to the final version being submitted. The Definitions (Trading appendix 1) are also updated to correspond with the changes in the Market Conduct Rules.
The revised MCR can be found here.
A document explaining the updates of the MCR can be found here.
The revised Definitions can be found here.
Guidelines on the MCR will be published as a help for members to comply with the MCR.
The revised MCR will be effective from 27 May 2013. Please update your UMMs if needed to be aligned with the new MCR before this date.
About Nord Pool Spot
Nord Pool Spot operates Europe’s leading power markets, offering both day-ahead and intraday trading to its members. 370 companies from 20 countries trade on Nord Pool Spot’s markets in the Nordic and Baltic regions, and on our UK market N2EX. In 2012 the group had a total turnover of 432 TWh traded power. Our markets are operated from offices in Oslo, Stockholm, Helsinki, Copenhagen, Tallinn and London. Nord Pool Spot strives continually to strengthen its business by working with integrity, together with members and stakeholders, to achieve excellence.
Lysaker, 13 May 2013
For more information, please contact:
Market Surveillance at +47 67 10 91 35, or [email protected]