The obligation on NEMOs to share their intraday orders right up to delivery in key European markets takes effect today, Tuesday 16 July 2024.
Nord Pool, the European power market, welcomes the new EU law establishing the extended intraday shared order book, which makes it possible for all European power exchanges to offer their customers the same liquidity from the beginning to the end of intraday trading, in all bidding zones.
A previous loophole in EU regulation meant that, in intraday markets such as Austria, Belgium, France, Germany, Luxembourg and The Netherlands, intraday liquidity in the final hour of trading could be ‘ringfenced’ in local markets. A power exchange had no obligation to share it with other exchanges, as is the case the rest of the time in intraday trading. It is particularly significant, since the last hour of intraday trading has become the focus of intense market activity – especially with the increase in renewable power sources in the energy mix.
Nominated Electricity Market Operators (NEMOs – power exchanges) and Transmission System Operators (TSOs) have worked together in recent months to ensure the Single Intraday Coupling (SIDC) systems are now ready to accommodate the extended shared order book.
Welcoming the new EU law, Tom Darell, CEO at Nord Pool, a Euronext company, said: “We are ready to share our customers’ orders with all other NEMOs in Central European intraday markets in a single order book, until trading closes.
“We know our customers are excited about this long-anticipated extension of the shared order book into the final hour of intraday trading, finally becoming a reality. Nord Pool customers will now be able to trade right up to gate closure in key markets.”
Camille Beudin, Chairman at Nord Pool, added: “This welcome change enables a genuinely open and competitive spot power trading environment in Europe. The effective integration of renewable energy generation into our power systems is heavily reliant on the final hour of intraday trading. This represents a step change for Nord Pool customers and a truly integrated European power market”.
To trade intraday with Nord Pool email [email protected] or contact your Market Manager.
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]
Oslo, 16 July 2024