Nord Pool, Europe’s leading power market, is pleased to announce that, from Wednesday 30 January, it commenced delivering services to the newly commissioned Nemo Link Interconnector between the UK and Belgium.
Nord Pool will provide shipping services to help facilitate Nemo Link’s regulatory obligations under EU Capacity Allocation and Congestion Management guidelines. These services enable the available interconnector capacity, on any given day, to be factored into the day-ahead trading activity of the GB and wider European electricity market, giving better utilisation of interconnector capacity.
Welcoming the Nemo Link go live Richard Sarti, Nord Pool’s Director UK and Ireland, said: “Nord Pool is immensely proud to have been part of this project, as it marks a significant step forward in the development of the GB electricity market. Nemo Link is the first new interconnector to have been built in the UK since 2011 and will play a huge part in increasing the security of supply between Great Britain and Belgium.
“The completion of this project, on time and within budget, reflects the close collaboration between Nord Pool and Nemo Link, a collaboration we look forward to continuing as we move into the operational phase of the project.”
Bert Maes, Chief Executive Officer of Nemo Link, added: “We are delighted that the strong collaboration between Nemo Link and Nord Pool has brought us to this historic milestone in which capacity on Nemo Link can be traded with the wider European market; thus paving the way for increased security of supply, reduced consumer bills and greater access to renewable energy. As we enter this new phase for Nemo Link, we are excited for the future and to continue developing our positive relationship and engagements with Nord Pool.”
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, France, The Netherlands, Belgium, Austria and the UK. Nord Pool is a Nominated Electricity Market Operator (NEMO) in 15 European countries, while also servicing power markets in Croatia and Bulgaria. In 2018 Nord Pool had a total turnover of 524 TWh traded power. The company has offices in Oslo, Stockholm, Helsinki, Tallinn, London and Berlin.
Nord Pool has 25 years of power market experience built on offering flexibility, transparency, innovation, greater choice and participation to our customers.
Lysaker, 1 February 2019
For further information, please contact:
Stina Johansen +47 6710 9181 - [email protected]