Nord Pool, Europe’s leading power market, has today (Friday 1st October) welcomed the go-live of the new North Sea Link (NSL) 1,400 MW HVDC interconnector between Great Britain and Norway, which is to be operated jointly by the transmission system operators National Grid and Statnett.
Nord Pool’s established N2EX auction in GB, and a counterpart auction in Norway’s NO2 bidding area, will offer market participants in both countries implicitly allocated NSL capacity. The first N2EX/NO2 auctions with NSL capacity ran on Thursday 30th September, for delivery Friday 1st October.
Welcoming the launch of NSL, Nord Pool Chief Executive Kari Ekelund Thørud said: “Nord Pool is proud to have been a part of this important new market coupling project and delighted to be playing a key role in delivering its benefits to the GB and Norway power markets, with the important implications that has for increasing security of supply on both sides of the North Sea. It was a huge vote of confidence in our operations to have been chosen, through a public tender process, by National Grid and Statnett to deliver the implicit trading service for NSL.
“With its strategic position linking, for the first time, the electricity systems of Great Britain and Norway, NSL is central to Nord Pool’s core markets. We have worked hard to ensure the timely delivery of an efficient trading services for NSL.
“The successful launch of this project reflects the close collaboration between Nord Pool, National Grid and Statnett, as well as marking a new milestone for Nord Pool.”
Nord Pool’s N2EX auction gate closure time is 09:50 UK time (NO2 auction - 10:50 CET), with preliminary results finalised by 10:00 UK time (11:00 CET). To find out more about trading power with Nord Pool contact: firstname.lastname@example.org
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.