Nord Pool, the European power market, together with the Georgian Energy Exchange JSC. (GENEX), has announced the successful launch of Georgia’s first day-ahead and intraday power trading market.
The go-live of the market, which opened and recorded its first trade in July, is the result of a cooperation agreement - with Nord Pool, a Euronext company, providing GENEX with power trading services including a range of key systems.
Commenting on the launch of the new market, Tom Darell, CEO at Nord Pool, said: “The team at Nord Pool has been working very closely with our partners at GENEX to help them develop a modern, efficient, transparent and secure energy trading capability. We are proud to bring our established heritage, expertise and technology to new markets across Europe.”
Irakli Galdava, Director General of GENEX, added: “This is great news for the Georgian energy market as we take another step towards a more liberalized approach. The successful introduction of day-ahead and intraday power trading in Georgia is extremely important for our energy sector. This new market presents a real opportunity, allowing market participants to trade on the GENEX platform for the first time.”
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, celebrated 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 370 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 16 European countries, while also servicing power markets in Bulgaria, Croatia and Georgia. In 2023 Nord Pool had a total turnover of 1103.83 TWh traded power.
Nord Pool’s three decades of power market experience is built on offering flexibility, transparency, innovation, greater choice and participation to our customers.
For more information, please contact:
Stuart Disbrey
Communications Director
[email protected]
Irene Zeier
Communications Director
[email protected]
Oslo, 6 August 2024