Nordic Day-Ahead markets successfully launched
EPEX SPOT and ECC complete their offering in the region
Leipzig / Paris, 04 June 2020. After the successful start of the Nordic Intraday markets end of May, the European Power Exchange EPEX SPOT and its clearing house European Commodity Clearing (ECC) successfully launched their Day-Ahead markets in Denmark, Finland, Norway and Sweden, completing their offering in the region. This was enabled through the Nordic Multi-NEMO Arrangements (MNAs) implemented on 3 June which was also the first trading day.
During the first two days, 890 MWh were traded on the new Day-Ahead markets. The Day-Ahead auction is coupled via the Multi-Regional Coupling which secures one single price in the Nordics, now that EPEX SPOT is active in the region. Daily market results are updated on the EPEX SPOT website. During the first week of Intraday trading, 18,771 MWh were traded in the Nordics.
“The Day-Ahead markets are the backbone of our offer and this launch follows the successful Intraday start, both of which our teams have been working relentlessly to achieve,” says Ralph Danielski, Chief Executive Officer of EPEX SPOT. “Our ability to innovate is widely known in the markets in Central Western Europe and Great Britain, and this is the added value we bring to customers in the Nordics. They will benefit from block orders in the Day-Ahead segment that are highly suitable for the Nordic generation mix.”
Dr Thomas Siegl, Chief Risk Officer of ECC adds: “As members of EEX Group, we bring an interesting cross-commodity offer to market participants, and we look forward to becoming an integral part of the Nordic power landscape. Our high clearing standards are tailored to the specific requirements of the Nordic Day-Ahead auctions, providing security for all market participants who want to become active in the region.”
The EU Regulation on Capacity Allocation and Congestion Management paved the way for EPEX SPOT to extend its services to regions outside of the historical core markets.
-ENDS
The European Power Exchange EPEX SPOT SE and its affiliates operate physical short-term electricity markets in Central Western Europe, the United Kingdom and in Denmark, Finland, Norway and Sweden. As part of EEX Group, a group of companies serving international commodity markets, EPEX SPOT is committed to the creation of a pan-European power market. Over 300 members trade electricity across twelve countries on EPEX SPOT. 49% of its equity is held by HGRT, a holding of transmission system operators. For more information, please visit www.epexspot.com.
European Commodity Clearing (ECC) is the leading clearing house for energy and commodity products in Europe and the central clearing house for the Global Commodity Exchange, EEX Group. ECC assumes the counterparty risk and guarantees the physical and financial settlement of transactions, providing security and cross-margining benefits for its customers. As part of EEX Group, ECC provides clearing services for EEX, EEX Asia and EPEX SPOT with additional services provided to Power Exchange Central Europe (PXE). In addition, ECC also provides clearing services for the partner exchanges HUPX, HUDEX, NOREXECO, SEEPEX and SEMOpx. www.ecc.de