Customer information on Brexit
The transition period around the UK leaving the EU is in process and from 1 January 2021, the UK will leave the European Internal Energy Market (IEM).
In September, the EU Commission announced that, irrespective of a trade deal being agreed, the UK will leave the IEM from 1 January 2021. As a result the GB day-ahead market and order books will no longer be coupled externally with the rest of Europe, nor internally within GB.
New gate closure time
Therefore Nord Pool’s day-ahead auction will have a new gate closure time of 09:50 GMT (currently 11:00 GMT) with results available no later than 10:00 GMT (currently 11:42 GMT).
In the island of Ireland the SEM-GB intraday auctions (IDA1 & IDA2) will continue to operate with shared order books between power exchanges, offering implicit capacity between the island of Ireland and GB.
While we continue to work with key stakeholders to investigate continuing a shared day-ahead order book post BREXIT, no such arrangements are in place at this late stage. That means we focus on operating a standalone auction while encouraging our customers to prepare accordingly.
Our customers have told us it is critical they have enough time to prepare bids for the day-ahead auction after final results from the explicit capacity auctions across the various interconnectors are available. Our new auction timing provides 30 minutes in which they can do this.
Explicit capacity auctions will be staggered throughout the morning, starting with the BritNed interconnector, followed by IFA, IFA2 and finally Nemo Link.