A major step has been taken with the sign-off of core building blocks of the future European Cross Border Intraday Solution. PXs, TSOs and the service provider agreed together, with support from the relevant national regulatory authorities, the Agency for the Cooperation of Energy Regulators and the European Commission, to proceed to the next phase of the project in which all requirements of the European Cross Border Intraday Solution will be contractually fixed. This phase is expected to take approximately 5 months and will enable the European Cross Border Intraday Solution to be built and tested.
The future Intraday Solution will be based on a common IT system which enables continuous cross border trading across the whole of Europe where intraday adjustments to trades concluded in the day-ahead market can be made. Intraday trading plays an important role in creating an efficient power market to handle variations in production and consumption close to real time. The future Intraday Solution will facilitate the integration of renewable energy sources into the European electricity market and thus, in turn, facilitate renewable energy policy objectives.
Commenting on the progress with the project, Mikael Lundin, CEO Nord Pool Spot and Project Steering Committee Co-Chair, said: “Completing this phase of the project is a key achievement. It has involved intense activity and a willingness of all parties to work together to reach agreement on challenging issues. This puts us in a good place to commence the next important phase of the European Cross Border Intraday project.”
Jean Verseille, Director European Affairs, RTE, who co-chairs the Project Steering Committee, added: “We have now a clear plan to achieve implementation of the European Cross Border Intraday Solution in the NWE region. This is a complex project involving many parties; today’s announcement recognises the tremendous effort put in by all parties and signals a real step forward. High quality, required functionality and system security remain at the heart of our efforts in order to meet market participant’s expectations.”
Progress is being made in other areas, including the pre- and post-matching process design, which will enable local implementation projects to commence.
Note to editors: The project phase successfully completed is the Early Start Agreement Step 1. During the next phase, which is known as Early Start Agreement Step 2 (Business Blueprint), the detailed specifications for the Capacity Management Module, the Shared Order Book and the Interfaces will be finalised. This will be then followed by the development and subsequent testing of the Cross Border Intraday Solution.
About APX & Belpex
APX is Europe’s premier provider of power exchange and clearing services for the wholesale market, operating transparent platforms in the Netherlands, the United Kingdom and Belgium. APX provides exchange trading, central clearing & settlement and benchmark data and industry indices distribution services to over 160 members from more than 15 countries.
Over 88 TWh was traded on APX markets in 2013, and over €9 billion in energy trades cleared by APX.
Belpex SA is a 100% subsidiary of APX.
About EPEX SPOT
The European Power Exchange EPEX SPOT SE operates the power spot markets for Germany, France, Austria and Switzerland (Day-Ahead and Intraday). Together these countries account for more than one third of the European power consumption. EPEX SPOT is a European company (Societas Europaea) based in Paris with branches in Leipzig, Bern and Vienna. In 2013, 346 TWh were traded on EPEX SPOT’s markets.
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 2013 the group had a total turnover of 493 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.
Operador del Mercado Ibérico de la Energía, polo español S.A. (OMIE) is a Spanish company created with the purpose of managing markets in underlying energy assets. As its main function, OMIE is the responsible of the management of the Iberian spot electricity markets, running everyday the day-Ahead Market and six intraday markets encompassing all Iberian energy. In 2013, 273 TWh were traded by OMIE, of which 39TWh were traded in the intraday markets, this volume of energy represented over €12 billion. In addition to this principal function, OMIE is responsible for the management of several energy-related product auctions, including both physical and financial products.
To find out more about the European Cross-Border Intraday Solution, visit the following websites:
The Transmission System Operators involved in the project are: 50Hertz, Amprion, Austrian Power Grid, Creos, Elia, Energinet.dk, Fingrid, National Grid Interconnectors, RTE, Statnett, Svenska kraftnät, Swissgrid, TenneT TSO B.V. (Netherlands), TenneT TSO GmbH (Germany) and TransnetBW
Lysaker, 19 May 2014
For further information, please contact:
Stina Johansen, Head of Communications, +47 916 50 603