Lysaker, 25 January 2012
N2EX, the UK power market offering, operated by NASDAQ OMX Commodities and Nord Pool Spot, has welcomed its 35th member – major electricity generator Drax Power Limited.
Drax, which currently generates 7% of the UK’s electricity, is the most recent of the country’s key power generators to join the N2EX market.
Welcoming Drax to the N2EX electricity market Hans Randen, Director European Integration at Nord Pool Spot, said: “We are delighted to have Drax Power Limited, as the latest member of our market. It is important that N2EX attracts the full range of the UK’s electricity generators and suppliers, to ensure a robust and transparent market. Having Drax Power Limited among our 35 members is a great vote of confidence in how the N2EX market is developing and as such the business is a very welcome addition to the N2EX market.
“It will be interesting to see the impact Drax has on N2EX once the business is trading to its fullest potential. Greater volume and liquidity in the market, which Drax will no doubt contribute to, can only be a positive development.”
Damien Speight, head trader at Drax Power Limited added:
“N2EX has established itself as a viable route to market. We are encouraged by the recent commitments made by a number of major market participants to increase N2EX liquidity. We look forward to working with N2EX and the wider market to encourage greater innovation, lower entry barriers and transaction cost, and increase the liquidity, tenure and transparency of the GB wholesale power market.”
For further information, please contact N2EX:
Press contacts:
Stuart Disbrey, Communications Manager UK, Nord Pool Spot AS, phone +44 7887 409 044
Sara Aadnesen, Director Communication, NASDAQ OMX Commodities, phone +47 6752 8080/+47 9060 0759
About N2EX
N2EX is the name of the UK power market offering from Nord Pool Spot and NASDAQ OMX Commodities. NASDAQ OMX Clearing is the authorized clearinghouse.
The web site, www.n2ex.com, provides market information and documentation for the UK power market.
About Nord Pool Spot
Nord Pool Spot runs the leading power market in Europe and offers both day-ahead and intraday markets to its members. 350 companies from 20 countries trade on the market. The Nord Pool Spot group has offices in Oslo, Stockholm, Helsinki, Copenhagen, Tallinn and London. In 2011 the group had a total turnover of 316 TWh, which includes the auction volume in the UK market N2EX.
For more information, visit www.nordpoolspot.com.
About NASDAQ OMX Commodities
NASDAQ OMX Commodities is the brand name for the NASDAQ OMX Group’s worldwide suite of commodity related products and services. The NASDAQ OMX Commodities offerings include power, natural gas and carbon emission markets and clearing services. NASDAQ OMX Commodities is a trademark of the NASDAQ OMX Group, Inc.
NASDAQ OMX Commodities Europe is the trade name of NASDAQ OMX Oslo ASA which is authorized as a commodity derivatives exchange by the Norwegian Ministry of Finance and supervised by the Norwegian Financial Supervisory Authority. All trades with NASDAQ OMX Commodities Europe are subject to clearing with NASDAQ OMX Clearing.
NASDAQ OMX Clearing is the trade name of NASDAQ OMX Stockholm AB which is authorized and supervised as a multi-asset clearinghouse by the Swedish Financial Supervisory Authority in Sweden as well as authorized to conduct clearing operation in Norway by the Norwegian Ministry of Finance.
NASDAQ OMX Commodities has more than 350 members from over 15 countries covering a wide range of energy producers, consumers and financial institutions.
For more information, please visit www.nasdaqomxcommodities.com.
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