The Nordic TSOs and Nord Pool Spot are considering the possibility of introducing a second- auction on the Nordic and Baltic day-ahead spot market. A second auction is proposed as a potential new procedure in situations where the first round of price calculation is unable to match demand and supply, hence potentially leading to curtailment of bids. Non-matching situations lead to either the minimum price of -500€/MWh, or the maximum price of +3000€/MWh and application of non-matching procedures.
For the purposes of this document a second auction is to be understood as a situation where a submission of orders is re-opened and market participants are allowed to provide new bids and update existing bids within a timeframe of approximately 10 minutes. The assumption is that this would allow for more orders entering into the market, thus replacing a curtailment situation, with an equilibrium market price.
The implementation of second auctions as an incident procedure in the Nordic and Baltic market area has not been decided upon. At this stage the Nordic TSOs and Nord Pool Spot would like to consult with Nordic and Baltic market participants and other relevant stakeholders. Pursuant to this process a consultation has now been published and is open for comments, which are most welcome, until 23 February 2015.
Here you can read the consultation paper.
Comments on the consultation paper may be sent to firstname.lastname@example.org.
About Nord Pool Spot
Nord Pool Spot operates Europe’s leading power markets, offering both day-ahead and intraday trading to its members. 380 companies from 20 countries trade on Nord Pool Spot’s markets in the Nordic and Baltic regions, and on our UK market N2EX. In 2014 the group had a total turnover of 501 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, 22 January 2015
For more information please contact:
Energinet.dk: Ulrik Møller, +45 23338545
Fingrid: Ritva Hirvonen, +358 30 395 4182
Svenska Kraftnät: Mårten Bergman, +46 10 475 83 78
Statnett SF: Trond Arnljot Jensen, +47 23 90 37 21
Nord Pool Spot: Hilde Rosenblad, +47 67 10 91 74
or Stina Johansen, Head of Communications, +47 916 50 603 (press inquiries)