Nord Pool Consulting is pleased to announce that it has been selected by the World Bank to lead the creation of an electricity market pilot aimed at enhancing regional integration and increasing electricity trade in the Central Asia region.
“We are delighted to collaborate with the World Bank and Central Asian countries to offer a pilot solution for the electricity market and propose policies that will enhance the potential trade benefits in Central Asia.”
Julien Cossé, Nord Pool CSO
Over the next six months, Nord Pool Consulting in collaboration with Juru and Ricardo – leading international consultancy firms responding to complex global challenges with sustainable innovation – will design a regional short-term pilot electricity market for Central Asia. Additionally, a step-by-step roadmap outlining the transition arrangements to move from a pilot to a fully-fledged market will be developed.
“Our aim is to adopt a comprehensive and well-rounded approach that takes into consideration the unique challenges, opportunities, and characteristics of the Central Asian region, ensuring that the countries in this area can benefit from the most optimal trade solutions.”
Lina Masiuliene, Director Nord Pool Services
A review of regional electricity trade studies, current arrangements in Central Asia and international experiences benchmarking will inform the proposed short-term pilot electricity market design and definition of implementation requirements. A series of capacity building activities to Central Asian stakeholders are foreseen as well.
“Leveraging our experience in developing new power markets, within and beyond Europe, is something Nord Pool has been providing as a service for more than two decades. We are enthusiastic about providing our consultancy services and sharing our expertise in this project.”
Tom Darell, Nord Pool CEO
Enhancing regional integration and increasing sustainable electricity trade between Central Asia countries and neighbouring regions can play a pivotal role in assuring energy security, accelerating decarbonization efforts, promoting economic growth, and ensuring regional stability. Central Asia is a region rich in resources, with a strategic location for sustainable energy trade. The countries in Central Asia possess significant energy-related natural resources, including oil, gas, coal, and high hydropower generation potential. Furthermore, the region has substantial untapped solar and wind potential. By leveraging the diverse energy sources and generation mix in the region, the pilot market will pave the way for accelerated regional decarbonization and the realization of the benefits of sustainable energy cooperation. These benefits include reduced investment costs in new generation capacity, increased development of renewable energy, and improved operation and management of regional energy resources.
About Nord Pool
Nord Pool, Europe’s leading power market, delivers efficient, simple and secure trading across Europe. In 2023 the company, which is majority owned by Euronext, celebrates 30 years of powering the market. Nord Pool offers day-ahead and intraday trading, clearing and settlement, and additional services, to customers regardless of size or location. Today 360 businesses 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 2022 Nord Pool had a total turnover of 1077.35 TWh traded power.
Nord Pool’s three decades of power market experience built on offering flexibility, transparency, innovation, greater choice and participation to our customers.
Oslo, 1 September 2023