While welcoming today’s (Friday 25 October) statement from the Single Day Ahead Coupling (SDAC) expressing confidence in being able to provide a GB power trading solution in the event of a no deal Brexit, Nord Pool remains concerned about the future of the GB day-ahead shared order book and the ability to retain a single reference price, in the absence of any agreement between the two GB Nominated Electricity Market Operators (NEMOs).
Richard Sarti, Director UK and Ireland at Nord Pool, commented: “Nord Pool has been in proactive discussions with the Department for Business, Energy and Industrial Strategy, with Ofgem, the regulator for gas and electricity markets, and with other GB stakeholders over many months. In those discussions we have been seeking to understand how cooperation between the two GB NEMOs, in the absence of regulation under the Capacity Allocation and Congestion Management guidelines, could be achieved.
“Nord Pool is – and always has been – an advocate of shared order books across all markets, geographies and timeframes, as well as being committed to maintaining a single reference price in the GB market. While Nord Pool continues to engage with all GB stakeholders on this, some parties are proving slow to respond at a time when we feel rapid action is needed if we are to retain the integrity and efficiency of the GB market and ensure participants are not exposed to additional risk as a result of the creation of multiple index prices and fragmented liquidity.
“In the meantime Nord Pool’s priority is to ensure that our customers can continue to trade with confidence on our platform, in the event of a hard Brexit.”
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, 25 October 2019
For further information, please contact:
Stuart Disbrey +44 7887 409044 - [email protected]