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
11:00-12:00
Welcome, registration and lunch
12:00
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 price here.
13:00
The role of the Transmission System Operator (TSO)
The TSOs’ responsibilities, regulation and reserve markets.
Hans Bøhle Aarhus, Statnett – Norwegian TSO
Coffee break
14:00
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
14:45
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
15:30
European intraday market: the road to XBID and 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
16:15
Kahoot! Fun and useful recap from day 1
Haakon Reiersen Leknes, Director, Nord Pool Academy
17:00
End of academic programme Day 1. Social programme starts.
19:00
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
08:30
Welcome to Day 2
08:45
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, Montel and Morten Hegna, Manager at Montel
09:30
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
10:30
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
11:15
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)
12:00
A more complicated open challenge: The spread between Nordic (SYS) and German power tomorrow AKA The Aas’ Bet.
12:00-13:00
Lunch
13:00
Continuation on Financial power market
Sandro Olivieri, Trading adviser, Nord Pool
13:45
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
14:30
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.
15:00
Kahoot and a brief summary of the two days
Haakon Reiersen Leknes, Director, Nord Pool Academy
16.00
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.
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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.
Fee
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.
Questions?
Feel free to send any questions you have about the course to academy@nordpoolgroup.com.