Nord Pool Spot is introducing a new signature policy in relation to member’s agreements for the Nordic/Baltic market, from Monday 27 October 2014. The new policy will ease the documentation requirements for members and be more effective than the previous.
The previous signature and documentation requirements required applicants and members to submit certified copies of company certificates (or similar company documentation) as well as official ID to evidence who is authorised to sign on behalf of the company).
As of 27 October the Nord Pool Spot signature process will require the signature of an authorised signatory for the member, but no requirements on additional documentation. Nord Pool Spot will verify the authorisation by obtaining company certificates directly from the relevant registers. We will accept written power of attorneys to the extent they are issued by an authorised signatory.
Changes in signature box in the Participant Agreement and Client Agreement
Due to the new process we have amended the wording regarding the signature requirements in all our agreements (the explanatory wording in the “signature box”). All agreements are enclosed.
Changes in Annex 1 and 2 to the Participant Agreement and Client Agreement
Based on members’ feedback we have simplified Annex 1 and 2 to the Participant and Client Agreements.
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.
Lysaker, 13 October 2014