The project partners of the North-Western Europe (NWE) day-ahead price coupling project have now confirmed the project’s go live date as the 4th February 2014, for delivery on the 5th February 2014.
NWE press release issued by the project partners: https://www.n2ex.com/digitalAssets/89/89555_20131218_nwe-confirmation-with-swe-announcement.pdf
We previously announced that as a consequence of the launch of NWE the following changes to the N2EX auction gate closure time and the N2EX auction price caps will come into effect in January 2014.
Change to N2EX gate closure time – effective 28th January
The N2EX auction gate closure will move from the current time of 09:30 to 11:00 (UK local time) effective from the auction on the 28th January (Tuesday) for delivery on the 29th January.
N2EX will continue to publish auction results 10 minutes after the auction gate closure until NWE goes live on the 4th February. Thereafter the auction process and the results publication times will be in line with the NWE guidelines.
Please Note: The change to the N2EX gate closure time is still contingent upon the confirmed go-live date for NWE. In the event of any unexpected delays to the launch of NWE, N2EX may decide to postpone the shift in gate closure to a later date. In these circumstances N2EX will advise members.
Introduction of new price caps within the N2EX auction – effective 15th January
N2EX will introduce new minimum and maximum price caps of £-500 and £3000 within the N2EX auction, replacing the current minimum and maximum caps of £0 and £2000.
This will take effect from the 15th January 2014 for delivery on the 16th January 2014.
These price caps have been agreed among the NWE project partners in order to harmonise the minimum and maximum price caps across the entire NWE area.
Members should be aware that whilst the price limits in SAPRI are in GBP, official price limits are in Euros (€-500 and €3000). When the GB order books are converted from GBP to Euros after the auction gate closure, any orders which exceed €-500 and €3000 after the currency conversion has taken place will automatically be rounded up or down to €-500 and €3000.
Will the N2EX systems be impacted by these changes?
The N2EX trading, clearing & API platforms will not be affected by this change, however members should consider whether these changes may have an impact on their internal trade management systems.
Want further information?
Further guidance can be found within our NWE Guidance document for N2EX members: http://www.nordpoolspot.com/Global/Download%20Center/NWE-Market-Coupling-Information-for-N2EX-Members.pdf
Or if you wish to discuss this further please get in touch:
N2EX Trading Operations, phone +44 207 065 8140 / +47 6710 9190