Nord Pool Spot is happy to announce that from 1 February 2015 the Gross Bidding service is expanded to include the Client member category. Previously, Nord Pool Spot’s Gross Bidding service has been available for members in the “Participant” category only.
The main features of the Gross Bidding service will be more or less the same to both member categories. The main difference is that Clients will be charged from their Client Representative. There is a difference in the fixed fees, but the variable fees are the same.
Gross Bidding means that the member sells their full production volume, and purchases the full outbound sales volume from Nord Pool Spot, without internal netting of the volumes. Gross Bidding contributes to the transparency of the power market, and for the member itself, it gives multiple benefits. These include a reduced need for internal invoicing, clarity with accounting, reducing operational risks, and making it easier to trade on the flexibilities of power production and power sales separately.
The Rulebook is updated with the new service, by issuing a new standard agreement “Gross Bidding – Clients” and by amending the Trading Rules - General Terms Section 3 and 6. This now refers to Gross Bidding as a service, which is available to both Participants and Clients.
The Gross Bidding service is offered to relevant Clients for an annual service fee of EUR 3 000 and an annual portfolio fee of EUR 1 500 for the additional portfolio, or portfolios, needed for the service. However, as an introductory offer, the annual service fee of 3 000 EUR will not apply during the year 2015. The Fee Schedule is updated accordingly.
About Nord Pool Spot
Nord Pool Spot operates Europe’s leading power markets, offering both day-ahead and intraday trading to its members. 380 companies from 20 countries trade on Nord Pool Spot’s markets in the Nordic and Baltic regions, and on our UK market N2EX. In 2014 the group had a total turnover of 501 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, 15 January 2015
For more information please contact:
Stina Johansen, Head of Communications, +47 916 50 603 (press inquiries)