Nord Pool is pleased to announce the publication of a new unified rulebook for conducting business across our markets.
The new rulebook is published today, Monday 19th June - to provide members with the required two weeks’ notice of the intended change - and can be viewed on our website.
Currently members trade with us under our Nordic/Baltic and/or GB Rulebooks, covering our Nordic/Baltic, German (intraday only) and GB markets.
We have been working for some time to merge our existing rulebooks in order to better reflect the changing market and regulatory environment and to make trading for our customers more efficient, simple and secure.
Nord Pool's new unified rulebook will apply across all our markets – including those where we are a Nominated Electricity Market Operator (NEMO) under the Capacity Allocation and Congestion Management Regulation (CACM), and where Nord Pool has been granted ‘passported’ NEMO rights (such as in the Republic of Ireland and Northern Ireland).
The new rulebook is scheduled to go live on Monday 3rd July.
Existing members who have already signed a Participant Agreement prior to the coming-into-force of the new rulebook do not need to do anything. The existing Participant Agreement will continue to bind these members to the terms of the new rulebook from the date it comes into force.
One important change in the new rulebook is that a participant will be free to select either Norwegian, English or German law as the governing law for their Participant Agreement. The relevant selected governing law will then apply as between the participant and Nord Pool for all trading activity with us, irrespective of where such trades are to be delivered. A trade to be delivered in Germany by a UK registered company could be subject to Norwegian law under the terms of our rulebook.
About Nord Pool
Nord Pool, Europe’s leading power market, delivers efficient, simple and secure trading across Europe. The company offers day-ahead and intraday trading, clearing and settlement to customers regardless of size or location. Today 380 companies from 20 countries trade on Nord Pool’s markets.
Nord Pool operates markets in the Nordic and Baltic regions, Germany and the UK, and is a Nominated Electricity Market Operator (NEMO) in 15 European countries, while also servicing power markets in Poland, Croatia and Bulgaria. In 2016 Nord Pool had a total turnover of 505 TWh traded power. The company has offices in Oslo, Stockholm, Helsinki, Tallinn and London.
Lysaker, 19 June 2017
For further information, please contact:
Camilla Berg, General Counsel: [email protected] or Stina Johansen, Communications Director, Nord Pool, +47 916 50 603 (for press enquiries)