The project partners consisting of the European NEMOs EPEX SPOT, GME, Nord Pool and OMIE and the North Western and South Western European and Baltic Transmission System Operators (TSOs) (see note 1) are pleased to announce the target go-live date following the completion of the user acceptance testing of the XBID solution.
Marking an important step towards creating a single integrated European Intraday market, the target go-live with the 10 Local Implementation Projects will deliver continuous trading of electricity across the following countries: Austria, Belgium, Denmark, Estonia, Finland, France, Germany, Latvia, Lithuania, Norway, The Netherlands, Portugal, Spain and Sweden. Most other European countries are due to take part in a second ‘wave’ go-live with XBID in Spring 2019.
The March 2018 go-live date is still subject to completion of Local Implementation Projects’ testing, Member Testing in February and completion of the Intraday Operational Agreement with clarifications from the National Regulatory Authorities (NRAs).
The XBID solution is based on a common IT system with one Shared Order Book (SOB), a Capacity Management Module (CMM) and a Shipping Module (SM). It allows for orders entered by market participants for continuous matching in one bidding zone to be matched by orders similarly submitted by market participants in any other bidding zone within the project’s reach as long as transmission capacity is available. The intraday solution supports both explicit allocation (where requested by NRAs) and implicit continuous trading and is in line with
the EU Target model for an integrated intraday market.
European-wide intraday coupling is a key component for completing the European Internal Energy Market. With the rising share of intermittent generation in the European generation mix, connecting intraday markets through cross-border trading is an increasingly important tool for market parties to keep positions balanced. The purpose of the XBID initiative is to increase the overall efficiency of intraday trading.
Note 1: The Transmission System Operators involved in the project are: 50Hertz (Germany), Amprion (Germany), AST (Latvia), Austrian Power Grid (Austria), Creos (Luxembourg), Elering (Estonia), Elia (Belgium), Energinet.dk (Denmark), Fingrid (Finland), Litgrid (Lithuania), National Grid Interconnectors (Britned and IFA, United Kingdom), REE (Spain), REN (Portugal), RTE (France), Statnett (Norway), Svenska kraftnät (Sweden), TenneT TSO B.V. (Netherlands), TenneT TSO GmbH (Germany) and TransnetBW (Germany).
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 Croatia and Bulgaria. In 2017 Nord Pool had a total turnover of 512 TWh traded power. The company has offices in Oslo, Stockholm, Helsinki, Tallinn, London and Berlin.
Lysaker, 8 January 2018
For further information, please contact:
Stina Johansen, Communications Director, +47 916 50 603 (for press enquiries)