Nord Pool Spot has done a review of the Market Conduct Rules (Trading Appendix 5) and Appendix 2a and 2g of the Elspot Market Regulation.
Market Conduct Rules
To prevent double regulation, the prohibition against market manipulation and the prohibition against insider trading are removed from the Market Conduct Rules. Market Surveillance will still monitor possible breaches of the prohibition against market manipulation and insider trading according to REMIT, and suspected breaches will be reported to the relevant authorities. The changes are implemented to better adapt to REMIT and the Transparency Regulation.
To make sure that members located in Norway complies with similar rules as the rest of the members at Nord Pool Spot, we will have special regulations for Norway until REMIT is implemented in Norwegian Law.
The new version of the Market Conduct Rules has been discussed with National Regulatory Authorities and with Nord Pool Spot’s members through Nord Pool Spot’s Customer Advisory Board.
The revised Market Conduct Rules can be found here.
A document explaining the updates of the Market Conduct Rules can be found here.
Appendix 2a – Elspot Market Regulation
Section 4 – Matching – has been amended by making a reference in point 4.1 to the Euphemia Public description document. This document, which is available on NPS website, describes the matching procedures of the PCR market coupling algorithm calculating Day ahead prices, flows and volumes for Nord Pool Spot market areas. Due to this, current point 4.2.2, 4.2.3 b) and 4.2.3 c) is deleted.
Section 9 – Roll back or fall back from NWE Price Coupling – has been deleted entirely as roll back or fall back solution from the MRC/PCR market coupling is no longer relevant or available.
Appendix 2g – Special Regulations for Trading in the Finnish Electricity Exchange Area towards Russia
Point 1.2 is amended in order to reflect that the available trading capacity allocated by Fingrid between Finland and Russia, may be subject to special conditions which is agreed in relevant agreements between Fingrid and Members.
The changes will take effect from 16 June 2015.
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, 2 June 2015
For more information please contact:
Stina Johansen, Head of Communications, +47 916 50 603 (press inquiries)