Marking Our UK Decade
Nord Pool is celebrating a decade of power trading in the UK, in 2020, having handled enough electricity in the 10 years since it was launched, to power Greater London for 25 years!
Our London-based operation started on 12th January 2010 in response to customer demand seeking greater competition in power trading. By the end of 2019 1,021 TWh had been traded.
Milestones have included launching the first successful day-ahead power auction in the UK and winning the tender to deliver and operate the ‘UK virtual hub’ which enabled the UK to become the first power market with two competing power exchanges in day-ahead trading, paving the way for the multi-NEMO arrangements now seen across Europe.
Emma McKiernan, Nord Pool’s Director for Nordic, Baltic, UK & Ireland, commented: “It was customer demand which saw Nord Pool extend its reach into the UK a decade ago and that customer focus continues to this day as we deliver simple, efficient and secure day-ahead and intraday power trading to our UK customers trading both domestically and across Europe. We would like to thank all our customers trading in our UK market for the continuing high levels of trust and commitment which they place in us.”
Nord Pool’s 2019 Trading Figures
Nord Pool has released trading figures for 2019, with a new volume record achieved in intraday trading.
During 2019 a total of 494 TWh of power was traded through Nord Pool, including the Nordic and Baltic day-ahead market (381.5 TWh), the UK day-ahead market (94 TWh), and record volume from our intraday markets (15.8 TWh). Meanwhile our newly launched central and western Europe day-ahead market achieved almost 2.5 TWh of power traded by year end.
Kari Ekelund Thørud, CEO of Nord Pool, commented: “In a year of change for Nord Pool it is great to see strong numbers being recorded once again, which in turn speaks of the high levels of trust and customer commitment which continue to be placed in us. The solid results we are seeing also reflect Nord Pool’s on-going commitment to creating a competitive and efficient single European power market for our customers, regardless of their size or where they trade. As power market competition widens across Europe in 2020, we will strive to continue to do what we do best – delivering simple, efficient and secure power-trading for our customers.”
In 2019 Nord Pool’s intraday markets nearly doubled the 8.2 TWh traded in 2018.
Extended intraday trading for Finland
All Nord Pool members active in the Finnish price area are now able to trade right up to the start of each delivery hour.
This change to allow trading until delivery follows the mid-2019 announcement by the Finnish TSO, Fingrid, that it would enable such trading locally.
The change will initially be a six month pilot, during which the TSO will evaluate how extended trading will support balance management in the Finnish power system.
Vassi Kujala, our Market Manager Finland, said: “Extending gate closure time to zero minutes in Finland is an important step in the development of the real time continuous power trading market, providing Nord Pool customers with better tools to adjust their balances.”
Visit us at E-World
If you are attending E-World Energy and Water in Essen, from 11th to 13th February, we would be very pleased to see you.
So why not drop by at at stand 3-124 in hall 3 and pay us a visit? We always want to meet customers and get your feedback on the challenges and concerns you have for 2020 and beyond.
It’s easy to arrange a meeting with your local Nord Pool Market Manager – simply contact us here.
Alternatively, if you prefer something less formal, feel free to just come to the Nord Pool stand for a chat.
Watch Out for Our Survey
Customers will soon be receiving Nord Pool’s annual online feedback survey, through which you can assess how we performed in 2019.
It only takes a few minutes to complete and the feedback we receive is extremely important in helping us better understand how we can continue to provide you with the best possible service and value for money.
All responses are treated in complete confidence and you have the additional option to remain anonymous, if you wish.
We look forward to understanding how we can further improve our partnership with our customers in the coming year and beyond.
Nord Pool Know-how on TV
A newly released TV documentary series ‘Snowhow’ gives a glimpse of the heart of Nord Pool – our operations desk. The new series focuses on something fundamental to those who live in the north – the impact of the long winter. The fourth episode follows how power producers in Norway measure snow levels and how the amount and type of snow is key to Norwegian power production, which connects to the power prices calculated by Nord Pool. The series is available now for viewers across the Nordics. (LINK)
(c) E-world photography: Udo Geisler