Nord Pool gives notice that the collateral requirements for power contracts will be increased during the Christmas period. The adjustment is in accordance with the Standard Terms for Trading and Clearing in Nord Pool’s day-ahead and intraday markets.
The adjustment is made in order to cover the period of non-clearing days during Christmas.
The adjusted day factor for the collateral calculation will be increased to three days for the Nord Pool UK market and to five days for all other Nord Pool markets.
The adjustment will be implemented, and the new requirements visible in clearing and settlement system (CASS), on Monday December 17. Members should then arrange to have sufficient increases in collateral in place as soon as possible, but no later than the absolute deadline of 11:00 CET Friday December 21.
The Day Factor will be reduced back on Wednesday January 2 2019.
Included is the Nord Pool Clearing Schedule Christmas 2018, outlining the dates over this period on which invoicing and cash settlements will occur.
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, France, The Netherlands, Belgium, Austria and the UK. Nord Pool is a Nominated Electricity Market Operator (NEMO) in 15 European countries, while also servicing power markets in Croatia and Bulgaria. In 2017 Nord Pool had a total turnover of 512 TWh traded power. The company has offices in Oslo, Stockholm, Helsinki, Tallinn, London and Berlin.
Nord Pool has 25 years of power market experience built on offering flexibility, transparency, innovation, greater choice and participation to our customers.
Lysaker, 5 December 2018
For further information, please contact:
Nord Pool Clearing Operations, firstname.lastname@example.org, +47 6710 9125