The market coupling operations of the Greek bidding zone in SDAC (Multi Regional Coupling) were successfully launched today, 15 December 2020 with 16 December 2020 being the first delivery day. HEnEx, the designated single NEMO in Greece is now included in the market coupling operational processes as a new operational NEMO, along with IPTO, the Greek TSO. The successful coupling is the result of the close collaboration between the Greek parties with the Italian NEMO GME and the Italian TSO TERNA. It represents a further step towards the achievement of the single day-ahead European electricity market, which is expected to reach its completion during 2021 with the integration of the MRC and 4MMC coupling projects.
Today for the first time, day-ahead capacity for the 500MW HVDC interconnection between Greece and Italy has been implicitly allocated via the Euphemia algorithm. The implemented price coupling allows for the simultaneous calculation of electricity prices and cross-border flows across the region. The efficient use of the power system and cross-border infrastructures, brought about by stronger coordination between energy markets, maximizes social welfare to the benefit of all market participants.
The next step is the implementation of the Greek-Bulgarian Market Coupling project that is scheduled to go-live in Q1 2021.
SDAC allocates scarce cross-border transmission capacity in the most efficient way by coupling wholesale electricity markets from different regions through a common algorithm, simultaneously taking into account cross-border transmission constraints, thereby maximising social welfare. The aim of SDAC is to create a single pan European cross zonal day-ahead electricity market. An integrated dayahead market increases the overall efficiency of trading by promoting effective competition, increasing liquidity and enabling a more efficient utilisation of generation resources across Europe.
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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 360 companies from 20 countries trade on Nord Pool’s markets.
Nord Pool operates markets in the Nordic and Baltic regions, Germany, Poland, 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 2019 Nord Pool had a total turnover of 494 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.
Oslo, 15 December 2020
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