All NEMOs and TSOs have been working incessantly over recent years to achieve a truly integrated European electricity market. This is reflected in the way forward to a new governance structure that entered into force on 14 January 2022. By integrating the decision making for both the day-ahead and intraday timeframe, the new structure will ensure further coordination, foster efficiency and create a faster decision-making mechanism.
Rafael Gómez-Elvira González, Chairman of the All NEMO Committee and Kjell A. Barmsnes, Chairman of ALL TSOs via the ENTSO-E Market Committee, highlighted that, for the energy sector, times are rapidly changing and NEMOs and TSOs are mindful of their role in achieving a fully integrated European electricity market. The Green Deal, a higher penetration of RES and more proactive consumers and market participants, means that the NEMOs and TSOs felt the need to act now to provide improved governance, operational developments and greater collaboration with all stakeholders.
In light of ACER´s recommendation to amend the CACM, all NEMOs and TSOs have presented, over the last year, a joint advocacy paper showing the concrete steps they are taking in order to help the already well-functioning European internal energy market meet new needs and improve and adapt to new changing times.
All NEMOs and TSOs have decided to go beyond advocacy and to start implementing, on a voluntary basis, some of the most relevant building blocks of their proposals for the CACM review: joint Qualified Majority Vote, which will speed up decision making and avoid escalation to authorities, and the creation of a Consultative Group with stakeholders.
Other building blocks of NEMOs’ and TSOs’ proposals will be implemented by the end of the year in particular with respect to organisation and operations as well as planning activities in order to give more visibility, speed and certainty about next developments.
These concrete steps can also be seen as NEMOs’ and TSOs’ answer to ACER’s proposal to force significant changes in CACM 2.0. As reported in the outcome of the consultation published by ACER, the majority of stakeholders/respondents consider that the proposed amendments to CACM (specially on MCO governance) are not adequate to meet current and future challenges.
About Nord Pool
Nord Pool, Europe’s leading power market, delivers efficient, simple and secure trading across Europe. The company, which is majority owned by Euronext, offers day-ahead and intraday trading, clearing and settlement, and additional services, 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, Poland, France, The Netherlands, Belgium, Austria, Luxembourg and the UK. Nord Pool is a Nominated Electricity Market Operator (NEMO) in 15 European countries, while also servicing power markets in Bulgaria, Croatia and Georgia. In 2021 Nord Pool had a total turnover of 963 TWh traded power.
Nord Pool has more than 25 years of power market experience built on offering flexibility, transparency, innovation, greater choice and participation to our customers.
Oslo, 8 February 2022
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