London, 2013-09-19 11:15 GMT The North Western Europe (NWE) market coupling project is coming closer to completion with a final go-live date due for agreement at a JSC (Joint Steering Committee) meeting being held on September 26th.
How will NWE impact the UK day-ahead auction - N2EX ?
The launch of NWE will see the introduction of price coupling across day-ahead wholesale electricity markets across Europe. A single algorithm (Euphemia) will simultaneously calculate market prices, net positions and flows on interconnectors between the regions.
We have published a guidance document (link below) which provides an overview of the main changes for N2EX members, including the need to move the N2EX auction gate closure time to 11:00am (GMT/BST) to align with Europe. http://www.nordpoolspot.com/Global/Download%20Center/NWE-Market-Coupling-Information-for-N2EX-Members.pdf
Want more information?
Up to date information on the NWE project can be found on our dedicated section of the Nord Pool Spot website http://www.nordpoolspot.com/How-does-it-work/European-Integration/
Nord Pool Spot has been at the forefront of European integration and the delivery of NWE; we are happy to provide guidance and assistance to ensure your continued efficient trading with N2EX after NWE go-live.
N2EX Trading Operations, +44 207 065 8140 / +47 6710 9190 email@example.com
Emma McKiernan, Client Relationship Executive – N2EX, +44 7887 744 700, firstname.lastname@example.org
Stuart Disbrey, Communications Manager UK,+44 7887 409044, email@example.com
N2EX is the name of the UK power market offering from Nord Pool Spot and NASDAQ OMX Commodities. NASDAQ OMX Clearing is the authorised clearinghouse.
The website 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 2012 the group had a total turnover of 432 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 nearly 350 members from over 15 countries covering a wide range of energy producers, consumers and financial institutions.
For more information, please visit www.nasdaqomx.com/commodities
This document is being directed solely at and may only be communicated to persons: (i who have professional experience in matters relating to investments as defined in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "FPO") or, (ii) who are high net worth companies, unincorporated associations and trustees of high value trusts within Article 49(2)(a)-(d) of the FPO, or (iii) to whom it may otherwise be lawful to distribute it (all such persons together being referred to as "Relevant Persons"). Any investment activity to which this document relates is available only to Relevant Persons and will be engaged in only with Relevant Person.