It is Nord Pool Spot’s highest priority to secure a credible price every day. In order to achieve this, Nord Pool Spot has decided to suspend members’ use of flexible hourly offers. The suspension takes effect from Saturday 31 August 2013 (for delivery Sunday 1 September) and until further notice. Accordingly, we adjusted the Elspot Regulations and Product Specifications to reflect this, and all references to the flexible hourly offers are temporarily taken out.
As informed in Exchange Information No. 41/2013 and No. 42/2013 the Elspot price calculation failed for delivery date Monday 5 August 2013, and Nord Pool Spot restricted the use of flexible hourly offers. On this background Nord Pool Spot has decided to suspend flexible hourly offers until it is entirely confident that all issues related to the algorithm’s handling of them have been satisfactorily resolved.
We will continue to keep our members and market informed throughout this process. Nord Pool Spot regrets the problems this have caused our members.
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, 30 August 2013
For further information, please contact:
Stina Johansen, Head of Communications, +47 916 50 603