Nord Pool, Europe’s leading power market, yesterday (Tuesday 2 July) successfully launched day-ahead power trading for central and western Europe (CWE), making it the first power exchange to offer day-ahead trading across the Nordic & Baltic region, the UK and CWE.
The launch is a result of the go-live of the Multi Nemo Arrangements (MNAs) arising from the European CACM (Capacity Allocation and Congestion Management) Regulation. This allows multiple power exchanges (known as Nominated Electricity Market Operators - NEMOs) to operate in the same bidding zone in EU member states.
Kari Ekelund Thørud, CEO of Nord Pool, said: “This go-live has been long-awaited as it finally brings full competition to day-ahead trading. Nord Pool will be bringing both existing and new customers the choice of a fresh, reliable, proven platform offering simple, efficient and secure power trading across Europe.
“Having operated as one of the power exchanges in day-ahead trading in the GB market since 2014, Nord Pool has experience of successfully doing business in competition.”
The new energy market for CWE is a result of years of work towards a more integrated European energy market. With the opening of Austria, Belgium, France, the Netherlands and Germany/Luxembourg, customers will be able to get the same price for each bidding zone for all 24 hours of the day-ahead auction, independently of which NEMO they use, and will benefit from increased choice of trading platform, improved service offering and competitive pricing.
Kari Ekelund Thørud concludes: “Now at long last customers can exercise their right to choose how and where they trade and can seek out the best value for money. At Nord Pool we welcome this development and look forward to introducing customers of all sizes and from all geographies to trade through Europe’s leading power market, over the coming weeks.”
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, 3 July 2019
For further information, please contact:
Stuart Disbrey +44 7887 409044 - [email protected]