As informed in Exchange Information No. 41/2013 and No. 42/2013 the Elspot price calculation failed for delivery date Monday 5 August 2013 and as a consequence Nord Pool Spot restricted the use of Flexible Hourly Offers to one (1) offer per Member per day from Wednesday 7 August (for delivery day Thursday 8 August 2013) until further notice.
Accordingly, Nord Pool Spot adjusts the Product Specifications (Trading Rules Appendix 3) Article 2 to reflect this.
The existing product specification for Flexible Hourly Offers (Trading Rules Appendix 3 Article 2):
Maximum amount of Flexible Hourly Offers: 5 per Trading Portfolio
The new product specification for Flexible Hourly Offers (Trading Rules Appendix 3 Article 2):
Maximum amount of Flexible Hourly Offers: One (1) Offer per Member per day (Client Representatives one (1) Offer per Client per day)
The adjustments are approved by the Norwegian Water Resources and Energy Directorate.
Nord Pool Spot is still in the process of investigating all aspects of the incident. Our members and market will be kept informed throughout this process. Our highest priority is to secure a credible price and Nord Pool Spot regrets the technical problems experienced.
About Nord Pool Spot
Nord Pool Spot operates Europe’s leading power markets, offering both day-ahead and intraday trading to its members. 370 companies from 20 countries trade on Nord Pool Spot’s markets in the Nordic and Baltic regions, and on our UK market N2EX. In 2012 the group had a total turnover of 432 TWh traded power. Our markets are operated from offices in Oslo, Stockholm, Helsinki, Copenhagen, Tallinn and London. Nord Pool Spot strives continually to strengthen its business by working with integrity, together with members and stakeholders, to achieve excellence.
Lysaker, 09 August 2013
For more information, please contact:
Stina Johansen, Head of Communications, +47 916 50 603