With effect from 5 January 2011, the Urgent Market Message (UMM) application will have a new input field labeled the “duration uncertainty”. The new functionality will make it possible and required for the senders of UMMs to specify and disclose any uncertainty relating to the duration of certain reportable incidents related to the Nordic electricity market, and is a response to request from the market to improve transparency in relation to certain incidents.
The disclosure of uncertainty will apply for all incidents concerning more than 400 MW of production, consumption or transmission during the next three (3) calendar years. For such incidents, an uncertainty factor related to the incident’s duration must be specified on a scale from 1 to 6 as follows:
- +/- 0 – 24 hours
- +/- 1 – 3 days
- +/- 4 – 7 days
- +/- 8 – 31 days
- +/- more than 31 days (specify if possible)
- Open/undetermined (specify reason)
In addition, if Market Surveillance finds that the UMM(s) relating to an incident exceeding 400 MW does not adequately describe the relevant incident, or there have been numerous UMMs relating to such an incident, Market Surveillance may require the sender to publish a new message type called an ”Extended Market Message” (EMM). The EMM shall in reasonable detail address such matters as Market Surveillance requests and the EMM may be published to the market by the exchange.
The Market Conduct Rules have been amended to reflect the new disclosure requirements. The new version of the Market Conduct Rules will become effective from 1 January 2011, however, the disclosure obligations relating to uncertainties will for technical reasons not become effective until 5 January 2011. Similar provisions are also being implemented for the derivatives market operated by NASDAQ OMX Commodities.
The “Disclosure Guidelines for Urgent Market Messages” for participants and for the Transmission System Operators (TSOs) will be updated and will be posted on the website of Nord Pool Spot prior to 5 January 2011.
UMMs already published and that would be subject to the uncertainty factor under the new rules must be updated by 19 January 2010.
Please see attachment regarding an example of an e-mail and xml-file containing duration uncertainty.
Lysaker 9 December 2010 15:00 CET
For further information, please contact Nord Pool Spot:
Siw Hauge, director communications, phone +47 90 61 59 92
Camilla Berg, head of market surveillance, phone +47 67 10 91 31