New Intraday Backup
We have strengthened our intraday service with a new solution to trade on local contracts should the Single Intraday Coupling (SIDC, formerly XBID) platform go down.
The backup solution, available from Wednesday 27th May, runs on Nord Pool’s local well-established platform and is available for members in all of Nord Pool’s 13 SIDC markets. In the event of SIDC downtime, new local contracts will replace SIDC contracts and Nord Pool members can immediately place new orders in the same way as before.
Order and trade IDs placed on the local backup solution will be given the prefix I instead of X to allow members to differentiate, but there are no other noticeable differences for intraday users.
Members can test the new solution on Wednesday 20th May from 14.00-15.00 CET in Nord Pool’s member test environment: intraday2.test.nordpoolgroup.com.
Find Out More About Power Markets
We are holding our popular two-day Physical and Financial Power Markets course in Oslo next month, while following all updated Covid-19 restrictions.
As well as Nord Pool’s own specialists, experts from Statnett, AFRY, Montel and Energy Norway, among others, will join us on Wednesday 3rd and Thursday 4th June to present on a wide variety of power market topics.
The course will be Covid-19 safe, coordinated in close cooperation with the venue, the Clarion Hotel in Oslo. The programme will include our usual high quality academic content, but will, due to Covid-19 considerations, be open only to delegates living in Norway.
Welcoming EFET intraday recommendations
Nord Pool welcomes a new statement from the European Federation of Energy Traders (EFET) recommending improvements to intraday market design.
Hans Randen, Director Market Coupling Operator at Nord Pool, says: “We fully agree with EFET’s assessment that the last hour before delivery is the most vital for intraday market participants. It is our view that mandatory liquidity sharing between NEMOs must be extended so that customers can get the greatest benefit from expanding liquidity. It is simply old fashioned to treat liquidity as ‘belonging’ to a single NEMO.
“In addition customers would be able more easily to balance their position, playing their part in supporting the power market from the point when the day-ahead market closes upto real time, as the volatility of production and demand increases. And even without extending intraday gate closure, order books could – and should – still be shared by all NEMOs until real time.”
Vassi’s Nordic Role
The next in our series of in-depth interviews with our dedicated team members features Helsinki-based Vassi Kujala.
With the announcement of Nordic MNA go-live, Vassi talks about recent market developments and what the future may hold for those who trade in the Nordic/Baltic region. You can find out more on Vassi’s views on the trading opportunities being presented in the Nordics here.
We will be bringing you more interviews with our markets team in future Newsletters.
Nordic/Baltic MNA go-live
Go-live date for the Nordic Multi NEMO Arrangements (MNA) has been confirmed as Wednesday 3rd June.
Nord Pool has been an integral part of developing the Nordic MNA project, which is something completely new for the region, over several years.
We are committed to ensuring minimal impact of this project on our customers throughout its implementation, continuing to work in the best interests of our customers in the region, focused on delivering robust and secure markets.
All Nord Pool customers can continue to trade the same liquid, transparent markets as they do today - there will be no technical changes to our trading and clearing platforms or processes.
After go-live Nord Pool will continue to publish the system price, reflecting all NEMO data applicable to the zone. We will also continue to publish system price bidding curve data, but from go-live it will only contain Nord Pool data.
Nord Pool remains your trusted Nordic, specialist and expert physical power exchange. We look forward to continuing to fulfil this central role on behalf of the entire region and our members.
If you have any questions or would like further information please contact your market manager.
Keeping an Eye on Market Surveillance
The latest quarterly newsletter from the experts in our Market Surveillance team is just out and includes the latest news and views on best practice in power trading and compliance.
The new edition sees the Market Surveillance team explaining the latest update to their REMIT Best Practice Report (including a new chapter on Algorithmic Trading) and also discussing a recent sanction decision involving the Hungarian TSO.