Nord Pool has successfully launched a new GB Half Hourly Day Ahead Auction.
The Nord Pool GB Half Hourly Day Ahead Auction, which went live last week, has been developed in response to direct requests from the company’s many UK customers, and gives members trading with Nord Pool the opportunity to reoptimise their positions in the market, Nord Pool says in a press release.
In addition to half hourly products, the new auction offers both regular and profile block functionality, with matched contracts delivering the following day. It runs daily at 14:30 UK local time including weekends and bank holidays.
Welcoming the successful launch, Richard Sarti, Nord Pool Director UK & Ireland, said:
«The continued development of Nord Pool’s products and services is a result of our working closely with our customers to understand the challenges that they face on a day-to-day basis. This launch is another example of how we have listened and worked with customers to provide new services. From the start, we have seen good engagement from a wide range of customers and we welcome increased interest and volume in this auction, going forward.»
The new auction is based on Nord Pool’s existing successful day-ahead platform. There are no additional fixed fees to access the new market, while members’ existing collateral is used to net across intraday, day-ahead and the new auction.
About Nord Pool
Nord Pool, Europe’s leading power market, delivers efficient, simple and secure trading across Europe. The company offers day-ahead and intraday trading, clearing and settlement to customers regardless of size or location. Today 380 companies from 20 countries trade on Nord Pool’s markets.
Nord Pool operates markets in the Nordic and Baltic regions, Germany and the UK, and is a Nominated Electricity Market Operator (NEMO) in 15 European countries, while also servicing power markets in Poland, Croatia and Bulgaria. In 2016 Nord Pool had a total turnover of 505 TWh traded power. The company has offices in Oslo, Stockholm, Helsinki, Tallinn and London.