The Physical and Financial Power Markets 30 & 31 January 2023 (fully booked)

(fully booked)

Join us in person at Ilsetra Hotel on the top of Hafjell, Lillehammer, for an introduction to Europe’s leading short- and long-term power markets. This is also an excellent refresher, covering all recent and relevant changes to the energy markets, as well as potential future developments.     

“The Physical and Financial Power Markets” sees experts from Nord Pool, Statnett, World Kinect Energy Services and Montel, providing valuable insights and answers to your questions. There will, as always, also be a guest presenter speaking on a hot topic.  

Held in English, the course will unravel the complexity of the power market, whether you are a trader, investor or working in the back or front office. It will be equally helpful for those with a more general interest in the increasingly important energy sector, such as law makers, energy regulators or students.   

Nord Pool Digital Diploma: Test of knowledge   
One week prior to the live-streamed presentations, all confirmed participants will get access to the online material which includes explanation of industry acronyms and an introduction to some of the basic concepts. Video recordings from previous courses are also included. The online material serves as a useful source of information about the finer detail of the power markets and also as an online test of knowledge. Pass the test one week after the course and you will be rewarded with the Nord Pool Digital Diploma!

Agenda for live presentations:  
Day 1: The Physical Power Market

Welcome, registration and lunch 

The Nord Pool power market model 
The basics about the energy markets, the development of the world’s first international energy market and its increasing importance.  
Haakon Reiersen Leknes, Director, Nord Pool Academy  

An open challenge: Competition to guess tomorrow’s Area Price for NO1 (Oslo, Norway) before CET 12:45 using Mentimeter. You can ask anybody for help in guessing, check also today’s pricehere.   

The role of the Transmission System Operator (TSO)   
The TSOs’ responsibilities, regulation and reserve markets.  
Hans Bøhle Aarhus, Statnett – Norwegian TSO 

Coffee break 

European day-ahead markets - SDAC part 1 
The integration of Europe’s power markets with one algorithm, Euphemia.  

Detailing European day-ahead markets: PCR, MRC, SDAC, system price, bidding areas, price formation, transmission allocation, transparency, market data and much more.  
Kristiane Jørstad, Trading Advisor, Nord Pool; Atle Sebjørnsen, Senior Market Expert, Nord Pool; and Isidora Micic, Senior Market Coupling Advisor, Nord Pool 

European day-ahead markets SDAC part 2 
Euphemia: Trading day-ahead across Europe with new products and handling of capacity allocation; ATC (Available Transmission Capacity) and FB (Flow Based). 

Kristiane Jørstad, Trading Advisor, Nord Pool; Atle Sebjørnsen, Senior Market Expert, Nord Pool; and Isidora Micic, Senior Market Coupling Advisor, Nord Pool 

Coffee and cake break 

European intraday market: the road to XBIDand onwards to SIDC 
Intraday trading close to delivery across Europe is rising due to increased VRE power production and demand response.  
Martin Hergot Festøy, Service owner XBID and Trading Adviser, Nord Pool 

Kahoot! Fun and useful recap from day 1  
Haakon Reiersen Leknes, Director, Nord Pool Academy   

End of academic programme Day 1. Social programme starts. 

Dinner for participants and presenters hosted by Nord Pool 

Let’s continue our discussions from Day 1, also a great opportunity for networking and more detailed questioning of the presenters and the other participants. 


Day 2: Financial and regulatory aspects of the power market 

Welcome to Day 2 

Recent updates from the European energy markets and global drivers 
Main price drivers, financial market, physical market, TSOs, new technology, politics on a national, regional, European and global level– and the different effects Covid-19 and the Ukrainian war have on the energy markets.  
Richard Sverrisson, Editor in Chief – Europe, Monteland Morten Hegna, Manager at Montel 

Market Surveillance at Nord Pool   
Introduction to REMIT, the role of Market Surveillance, national regulators and ACER and inside information versus transparency information. Introduction to Urgent Market Messages (UMM) system.  
Peder Grimstad Helset, Market Surveillance Analyst, Nord Pool  
Coffee break 

Risk management, clearing and settlement   
The role of the central counterpart, clearing and settlement at Nord Pool.  
Risk management at Nord Pool.  
Robert O'Doherty, Senior Trading Adviser, Nord Pool  

Financial power market: Hedging power prices 

Introduction to the financial power market.   
Standardised products including trading of EPAD.  
Clearing and settlement for trades and clearing of OTC trades.   

Sandro Olivieri, Trading Adviser, Nord Pool (previously Trading Adviser at NASDAQ) 

A more complicated open challenge: The spread between Nordic (SYS) and German power tomorrow AKA The Aas’ Bet. 


Continuation on Financial power market 

Sandro Olivieri, Trading adviser, Nord Pool 

Green finance: Voluntary and mandatory markets 
Covering the major green markets and products, ranging from the world’s largest carbon market (EU ETS), guarantees of origin (GOs), renewable energy certificate (RECs), carbon offsets and feed-in tariffs.    
Solveig Thoresen, Environmental Markets Analyst at World Kinect Energy Services 

Coffee and cake break 

Hot topic: Are PPAs the panacea?  

Producers, consumers and investors all need more predictable energy prices. In these extraordinary times, what part of the solution will PPA cover? Nord Pool has innovated both physical and financial markets the past three decades and will share thoughts and ideas about the future.     
Julien Cossé, Chief Strategy Officer (CSO) at Nord Pool  

Previous hot topics: Recordings of some of the previous hot topic presentations are available for you to watch in the online material. Previous topics covered have included: Algorithms, Brexit, CCS, Decarbonisation of Europe, Electrification of cities (C40), Flexibility markets, Green products, Hydrogen, Power Markets in India, EU’s 'Fit for 55' package, Water Values and Thermal Batteries.   

Kahoot and a brief summary of the two days   
Haakon Reiersen Leknes, Director, Nord Pool Academy 

End of academic course. Return home or join us for a social winter activity 

Enjoy the ski-in/ski-out possibilities with direct access to over 300 km of freshly groomed cross-country tracks as well as Hafjell ski resort, relax with mountain sauna and swimming pool or join us for a winter experience snowshoeing under the stars, exploring the beautiful winter landscape on foot. 


Where and how 

We are glad to host our first in-person event since spring 2020. We will stay at Ilsetra Hotel on the top of Hafjell, Lillehammer. Enjoy the ski-in/ski-out possibilities with direct access to over 300 km of freshly groomed cross country tracks as well as Hafjell ski resort. 

The mountain hotel is located 2.5 hours north of Oslo and 25 min from Lillehammer by bus, car or taxi. Transport between Lillehammer train station and Ilsetra Hotel is included in the course fee for participants travelling to Lillehammer by public transport. More information will follow upon registration. 

Access to online material and tests will be available for all confirmed participants and distributed one week prior to course start. Pass the online test of knowledge before or after the course and receive your individual Digital Diploma. 

Participants receive contact details of presenters and are free to send them follow-up questions. 

Participation fee is EUR 2000, including all presentations, online material and test. The fee also includes lunch and snacks during the course, dinner Monday evening, a social winter activity Tuesday evening and bus transport from/to Lillehammer.  

To ensure we are able to answer all questions, only a limited number of participants can attend. We have limited availability allocated on a first come, first served basis. 

Please note that you must book accommodation yourself using a predefined booking code provided by us. Accommodation includes breakfast. More details will follow upon registration. 

Fee discounts 
25% discount to members of Nord Pool, Statnett, Montel, World Kinect Energy Services and guest presenters’ customers/members.   
If you are a student, journalist or feel a discount should be applicable to you, get in touch. 

Feel free to send any questions you have about the course to  

Register now

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