Croatian Power Exchange Ltd (CROPEX) and Nord Pool, Europe’s leading power market, have today (Monday 28 November 2016) announced the signing of an agreement to create the first competitive Croatian intraday power market.
Successful cooperation between the two power exchanges started with the implementation of the Croatian day-ahead market, which has been operational since 10 February 2016. Today both exchanges have made an important step forward to develop a Croatian intraday market.
The launch of a continuous market is a necessary precondition for Croatia’s participation in XBID, the European cross-border intraday coupling project.
According to the agreed project timetable, the Croatian intraday market is planned to become operational in the first quarter of 2017, with the exact go-live date to be announced.
Silvio Brkić, CEO of CROPEX, said: “Following the successful launch of the Croatian Day Ahead Market in February 2016 and our consistent work to create a fully liberalised and transparent Croatian power market, we in CROPEX are proud to announce the prospect of an operational intraday market for Q1 2017.
“This offers, among other benefits for current and new CROPEX members, the crucial step of accommodation and continuous trading of significant intermittent renewable production offered to the Croatian power market. That will create a market framework for the integration of intraday liquidity across Croatian-EU borders.
“We are especially happy to have further strengthened our established strategic cooperation with Nord Pool.”
Mikael Lundin, CEO of Nord Pool, added: “At Nord Pool we are delighted to have been able to build on our relationship of trust and understanding with CROPEX to not only jointly establish a modern and transparent day-ahead market but, now, a secure and efficient intraday market too.
“Nord Pool is pleased to be pioneering, with CROPEX, Croatia’s integration into the pan-European energy market.”
About Nord Pool
Nord Pool, Europe’s leading power market, delivers efficient, simple and secure trading across Europe. The company offers day-ahead and intraday trading, clearing and settlement to customers regardless of size or location. Today 380 companies from 20 countries trade on Nord Pool’s markets.
Nord Pool operates markets in the Nordic and Baltic regions, Germany and the UK, and is a Nominated Electricity Market Operator (NEMO) in 13 European countries, while also servicing power markets in Poland, Croatia and Bulgaria. In 2015 Nord Pool had a total turnover of 489 TWh traded power. The company has offices in Oslo, Stockholm, Helsinki, Tallinn and London.
Lysaker, 28 November 2016
For further information, please contact:
Stina Johansen, Communications Director, +47 916 50 603 (for press enquiries)