The launch is a result of the go-live of the Multi Nemo Arrangements (MNA) arising from the European CACM (Capacity Allocation and Congestion Management) Regulation, which allow multiple power exchanges to operate in the same markets across Europe. This is part of the EU target model towards creating a single pan-European market to improve efficient use of energy across national borders, with shared access to market liquidity.
Commenting on the successful launch, Kari Ekelund Thørud, CEO at Nord Pool, said: “We are excited to be bringing our offering and longstanding expertise to these new central western European markets, giving customers economy of scale as well as lowering barriers to entry for new customers, who now have a real choice of where to trade.
“At Nord Pool we can lay claim to having invented the modern power exchange. We were the first to set up cross-border power trading, initially in the Nordic region – then expanding to establish what would become the European target model. Now our customers, wherever they may be, can simply and efficiently trade across 13 European markets using Nord Pool as their single counterpart.
“As with any new market launch, we know it will take time for customers to become familiar with this new trading environment. But the message we get from our customers is clear; they are confident to trade and we are already seeing that expressed in healthy interest in our new markets. It has been a pleasure to see both old and new customers trading with us from the very start.”
Among customers already trading the new markets with Nord Pool as a single counterpart is Kinect Energy, whose Senior Director Supply and Services Therese Gjerde, commented: “We decided to move our day-ahead power trading to Nord Pool for the whole of the European market and we want to take our customers with us, because we believe that this model offers the most favourable solution.
“The availability of multiple platforms will provide choice, stimulate competition and lower the cost of trading. This development is a big step towards integrating European power markets and Kinect Energy wants to lead the way as it continues its own evolution in the market.”
Eric Olivier, CEO of European Commodities, added: “We are proud to be among the first Belgian companies to join Nord Pool in its new day-ahead markets. With Nord Pool we can finally have cost-effective and IT-efficient direct access to the day-ahead and intraday power markets."
*Volume presented include both buy and sell volume.
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 360 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, 2 September 2019
For further information, please contact:
Stina Johansen, +47 916 50 603 - [email protected]
Stuart Disbrey +44 7887 409044 - [email protected]