The Physical and Financial Power Markets (3rd – 4th February)

This time around, Nord Pool Academy will be providing this popular course as a hybrid between physical and online, with the aim of effectively delivering it for both audiences. This will make it possible for us to adjust to the latest government advice on how to handle the on-going Covid-19 situation, as the development of vaccines progresses.

Join us in Oslo on Wednesday 3rd and Thursday 4th February 2021 for an introduction to Europe’s leading short- and long-term power markets. This is also a good refresher, covering all major recent changes to the energy markets and potential future developments.  

New topics added 2021: In addition to the standard updates, we will address Flow Based capacity allocation on interconnectors across Europe. There will also be a session on the impact of BREXIT, the new auction on the forthcoming NSL HV/DC cable and the extreme prices we have seen recently the arbitrage possibilities they present to the market participants.   

An online test of knowledge will be available for all - those who pass with more than 90 % correct answers will be awarded a Nord Pool Digital Diploma!   

“The Physical and Financial Power Markets” sees experts from Nord Pool, Statnett, AFRY and Montel providing valuable insights and answers to your questions. There will, as always, also be a guest presenter speaking on a hot topic; details to be confirmed.

Held in English, over two days, the course will unravel the complexity of the power market, whether you are a trader, investor or working in the back or front office. It will be equally helpful for those with a more general interest in the increasingly important energy sector.

Competitions will be held during the course. Winners will receive some useful energy market relevant gadgets!

Day 1: The physical power market

08:30         
Registration, with coffee, tea, light breakfast or a smoothie. 

09:00     
Development of the Nord Pool power market model

The basics about the energy market and its importance
Terminology and acronyms you need to know
Development of the world’s first international energy market
Haakon Reiersen Leknes, Senior Consultant, Nord Pool Consulting 

10:15       
The role of the Transmission System Operator (TSO) – via video link

The TSOs’ responsibilities, regulation and reserve markets.
Hans Bøhle Aarhus, Statnett – Norwegian TSO

10:55
European day-ahead markets - SDAC part 1

The integration of Europe’s power markets with one algorithm, Euphemia

Detailing European day-ahead markets: PCR, MRC, SDAC (Elspot), system price, bidding areas, price areas, transmission allocation, transparency, market data and much more
Hilde Rosenblad, Senior Adviser Public & Regulatory Affairs and previous head of Nord Pool Nordic and Baltic Operation, Nord Pool

12:00     
An open challenge
 – competition to guess tomorrow’s System Price before CET 12:42 using Mentimeter (https://www.menti.com/). You can and should ask absolutely anybody for help in guessing, and also check today’s price here: https://www.nordpoolgroup.com/Market-data1/#/nordic/map

12:30-13:30
Lunch

13:30
European day-ahead markets SDAC part 2

Euphemia: Trading day-ahead across Europe with new products and handling of ATC (Allocated Transmission Capacity) 
Hilde Rosenblad, Senior Adviser Public & Regulatory Affairs and previous head of Nord Pool Nordic and Baltic Operation, Nord Pool

14:05            
Flow-based Market Coupling 

Flow-based Market Coupling is being implemented across the European energy market and we will in this session try to explain the impact it will have for the various stakeholders.  
Matin BagherpourSenior Algorithm Design Expert, Nord Pool 

14:30           
European intraday market: the road to XBID and onwards to SIDC

The rise of intraday trading with increased wind and solar power production
Trading intraday across Europe 24/7 with Nord Pool intraday 
The use of API for automated intraday trades  
Atle Sebjørnsen, Senior Trading Adviser Nord Pool

Coffee break

15:15       
Kahoot (www.kahoot.it) Live online test from day 1
Haakon Reiersen Leknes, Senior Consultant, Nord Pool Consulting

16.00      
End of day 1

Depending on news around vaccines, we may have our usual social event after day 1, in which case…

Everybody is welcome for light snacks and refreshments at the venue, in accordance with updated Covid-19 restrictions.

Day 2: Financial and regulatory aspects of the power market

08:30         
Welcome to Day 2
Haakon Reiersen Leknes, Senior Consultant, Nord Pool Consulting

08:35   
Recent updates from the European energy markets: Two presentations in one!

Main price drivers, financial market, physical market, TSOs, new technology, politics on a national, regional, European and global level– and the different effects Covid-19 has had on the energy markets
Richard Sverrisson, Editor in Chief – Europe, Montel
 and Morten Hegna Manager at Montel

9.15
Market Surveillance at Nord Pool 

Introduction to REMIT, the role of Market Surveillance, national regulators and ACER and inside information versus transparency information. Introduction to Urgent Market Messages (UMM) system
Jon Rokne Bolkesjø, Market Surveillance Analyst, Nord Pool

Coffee break

10:15           
Risk management, clearing and settlement  

The role of the central counterpart, clearing and settlement at Nord Pool
Risk management at Nord Pool
Robert O'Doherty, Senior Trading Adviser Nord Pool 

10:55 
Financial power market: Hedging power prices 

Introduction to the financial market 
Standardised products including trading of EPAD 
Clearing and settlement for trades and clearing of OTC trades 

Guess tomorrow’s System Price and the Oslo (NO1) price, and Einar Aass’ bet: The spread between Nordic (SYS) and German power tomorrow  

Charles Lapierre, Key account Manager Central Europe, Nord Pool, previous Trading Adviser at both Nord Pool and NASDAQ and Sandro Olivieri, Trading adviser, Nord Pool 

12:30-13:30
Lunch

13:30
Financial power market: Green products and carbon market  

EU ETS Framework conditions, regulation in phase III and recent developments in the market 
The Elcert-market (Sweden-Norway) 
Renewable energy with guarantees of origin 
Sandro Olivieri, Trading adviser, Nord Pool and Charles Lapierre, Key account Manager Central Europe, Nord Pool, previous Trading Adviser at both Nord Pool and NASDAQ 

Coffee break

14:00
Corporate PPAs (Power Purchase Agreements)
 

Introduction to types of PPA
Setting up a corporate PPA
Risks involved with PPA
Kathrine Stene Bakke, Senior Principal, AFRY Management Consulting

14:30 
Hot topic presentationExtreme prices and new possibilities  

New trading opportunities with increased cross border flows and extreme low and high prices. Examples used is the implications of Brexit and arbitrage over new and existing HV/DC interconnectors.  
Atle Sebjørnsen, Senior Trading Adviser Nord Pool 

15:15    
Kahoot and a brief summary of the two days 
Haakon Reiersen Leknes, Senior Consultant, Nord Pool Consulting

16:00
End of course

We look forward to seeing you in Oslo or online!

Where and how

Both days of the course will be available online, streamed live from a venue in Oslo. At this venue, we will also have room for participants, provided this is allowed. Online material and tests will be available for all, and those who pass the test with more than 90 % correct answers will be awarded a Digital Diploma.

Fee

Participation fee is EUR 1500, including all refreshments and lunch.
All presentations will be distributed to participants after the event. If the online test is passed, an individual Digital Diploma will also be issued. Participants receive contact details of presenters and are free to send them follow-up questions. 

Fee discounts

25% discount to Nord Pool, Statnett, Montel and guest presenters’ customers/members. 

Three or more people attending from the same company get an additional 10% discount.

We reserve a few seats for students. If you are a student, or for some other reason feel you should qualify for a discount, get in touch.

Languages

All slides and presentations will be in English, but most of our presenters understand a couple of other European languages too. 

Questions?

Please free to send any questions you have about the course to: haakon.leknes@nordpoolgroup.com.

If there are specific questions on any of the topics covered that you would like answered on the course, but prefer not to ask in person, send them to: academy@nordpoolgroup.com.

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