Annual Report - ‘Embracing New Challenges’
Offering a wide-ranging overview of the year’s key milestones in terms of projects, developments and deliveries, it gives the inside track on how the team at Nord Pool has been working hard to ensure we bring our trademark simple, efficient and secure power trading to customers throughout the Nordic region and across Europe.
The most important facts and figures from 2019’s trading activity are here for you to review, combined with in-depth interviews featuring members of staff at Nord Pool whose roles are at the heart of delivering modern, efficient trading. And we engage with major new developments head on, with our take on the benefits and challenges of wider European power market competition and how delivering value for money to our customers, regardless of their size or where they trade from, is key to everything we do.
Developments in Data
Our dedicated Data Services team is firmly focusing on a raft of new developments in our data offering, many of which has been asked for by our customers.
We are planning a series of updates and new products aimed at giving customers greater flexibility when choosing subscriptions and granting access to completely new data sets.
These will include - updates to intraday market data (with a comprehensive suite of data products relating to intraday trading); subscriptions that will encompass country-specific products; a premium web portal providing real-time insights across our markets; and a free-to-use price data API specifically aimed at the many people we know are mainly using price data to improve their electricity consumption behavior.
Bringing intraday to Poland
Nord Pool will launch our full intraday trading and clearing offering in Poland from Tuesday 25th August, meaning customers will be able to trade intraday with us there and in 14 other countries using a single simple and reliable platform. And that brings access to a liquidity pool covering the Nordic, Baltic, Austrian, Belgian, French, German, Luxembourg, Netherlands and Polish markets.
Our intraday markets are open 24/7, 365 days a year, offering a comprehensive range of trading products, with simple access through either our dynamic web-based intraday platform or intraday API.
Find out more here: https://www.nordpoolgroup.com/trading/intraday-trading
Testing is available now, to sign up email: email@example.com.
Intraday API improvements
Two important changes are coming to our intraday API.
Firstly we are changing order execution report snapshots, increasing the snapshot limit from 1,000 to 20,000 order events. A custom limit below 20,000 can be applied by the user.
In addition, order events with the following Order Action values will no longer be included in the snapshot: FULL_EXECUTION, SYSTEM_EXPIRED, SYSTEM_DELETED, USER_DELETED
Second, Nord Pool is implementing new functionality to automatically deactivate all orders belonging to an API user where there is a loss of connection to Nord Pool’s intraday platform. Upon connection loss, all orders will be deactivated within 10 seconds, to support API users to limit the risk of unwanted exposure in the market during disconnection.
This change will apply to all API users - not to users of the Intraday Web user interface. API users can activate this feature by using a REST API call.
New self-trading flag for intraday
We have extended the marking of self-trades feature in our intraday market, enabling companies with multiple legal entities registered to trade at Nord Pool, to flag trades between those entities as self-trades.
A self-trade is defined as a trade where both legs of the trade belong to the same company. These trades are displayed in the trade ticker with a * next to the price and in the intraday API for ticker data as: "CompanyTrade": true.
To activate this new solution, simply submit a request to Nord Pool.
For further information, please contact: firstname.lastname@example.org.
Finland – Successful Pilot Extended
Nord Pool’s intraday trading pilot for Finland has proved so successful it is being extended into 2021!
The pilot, which was originally planned to last just six months, has extended intraday trading in Finland into the last 30 minutes before delivery hour. It has been very popular with customers trading themselves into balance closer to delivery than was previously possible, with nearly 24 GWh traded by 35 customers so far. As a result Nord Pool, in cooperation with Finnish TSO Fingrid, plans to continue the pilot until the end of March next year.
Welcoming the extension our Finland Market Manager, Vassi Kujala, said: "The original extended trading opportunity was very much welcomed by our customers, so we are delighted to continue the pilot in cooperation with Fingrid. This is a great example of our innovation in the market and continues our efforts to deliver a power market that better suits the needs of our customers, now and into the future, while also accommodating the needs of the local TSO around security of supply.
"At Nord Pool we believe that this sets an excellent benchmark for developing power markets in the future; through close, transparent and open-minded cooperation between all interested parties. Fingrid’s role in listening to new ideas on market development and helping us to realise them, has been particularly important.”
To find out more about taking advantage of intraday trading closer to delivery in Finland, contact Vassi Kujala.
For further information, please contact: email@example.com.
UMM Comes to Ireland
Nord Pool is now working with the Electricity Association of Ireland (EAI) to allow its members access to our proven Urgent Market Messaging (UMM) service, providing detailed and up-to-date information on insider information for production, consumption and transmission outages, along with other relevant market information.
From July, users of UMM in Ireland can ensure that they are fully compliant with the Regulation of Energy Markets Integrity and Transparency (REMIT) and other appropriate European regulations.
Nord Pool’s UMM sets the benchmark for compliancy reporting, having been the system of choice for market participants in the Nordic region for some time. Now, thanks to close cooperation with EAI, users in Ireland can access a trusted platform founded on proven technology.
Emma McKiernan, Director - Nordic, Baltic UK and Ireland at Nord Pool commented: “By using our UMM system, market participants are helping underpin the integrity of the power market by ensuring that all information is reported in the same way and in a single location, increasing transparency. For those using it, UMM enables economies of scale, helping to reduce costs and the IT burden of multiple reporting feeds.”
Customers Have Their Say
You can now read what our customers have to say about trading with Nord Pool at our dedicated web page.
Most recently two of our central European customers - Sunnic and European Commodities - shared their experience, revealing their views on the importance of power market competition and the ease of working with Nord Pool.
New Mini Website in French
As part of our continued commitment to growing our simple, efficient and secure power trading offer across Europe, we now have a dedicated mini website in French.
We completely understand that our French-speaking customers may like to have the choice of using their own language to find out all the key facts on robust and reliable trading with Nord Pool.
We hope our new mini site will help French-speaking customers as well as curious prospects to know more about us and our range of products and services – you can see more here.