Electricity volumes traded on N2EX, the UK power market jointly operated by Nord Pool Spot and NASDAQ OMX Commodities, reached record levels in 2013, accounting for 44% of GB day-ahead consumption, end of year figures show.
The year saw 139.4 TWh of day-ahead consumption traded on the N2EX market, a significant increase on 2012’s figure of 94.8 TWh. The end-of-year total for all volumes traded on the N2EX platform - prompt, spot and day-ahead - was an extremely strong 142.8 TWh. In addition to this, the auction achieved a record high in day-ahead trading of 507 GWh.
Welcoming the new N2EX record Mikael Lundin, CEO of Nord Pool Spot, said: “2013 marked another successful year for N2EX as we continued to develop our offering to the market. Being able to finish the year with strong volumes allows us to continue to build on our successes. We are proud that N2EX has established itself as the third largest European power exchange by volume, achieving auction volumes consistently above 400 GWh.”
Bjørn Sibbern, Head of NASDAQ OMX Commodities, said: “Nord Pool Spot and NASDAQ OMX Commodities have established this milestone UK power market, created by great collaboration, and with focus on high quality, transparency and liquidity. Working together with the market participants is not only rewarding work, but a matchless business based upon the successful Nordic design for trading power. With our experience from the world’s first and most successful power market, the Nordic, NASDAQ OMX Commodities embraces the achievements of the N2EX and hope to see the same development in our UK power futures market.”
Mikael Lundin concluded: “The coming year is going to be an important one in the development of the European electricity market and in the history of N2EX as we move towards a more integrated market structure. The successful implementation and growth of N2EX has been instrumental in enabling the GB market to couple with Europe under the NWE market coupling project. This success is largely due to the commitment from our members as they continue to support our development of market liquidity and innovative products, enabling us to continue developing a platform which has been built by the market, for the market.”
Media contacts
Stuart Disbrey, UK Communications Manager, Nord Pool Spot, phone +44 0203 697 7730/+44 07887 409 044. sd@npspot.com
Sara Aadnesen, Director Corporate Communications, NASDAQ OMX Commodities and N2EX, phone: +47 9060 0759, sara.aadnesen@nasdaqomx.com
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. 370 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.
NOS Clearing ASA is the leading clearing house for the freight market and a specialist clearing provider to the commodities markets. The company is wholly owned by the NASDAQ OMX Group Inc. The clearinghouse, which is situated in Oslo, has more than 300 members.
NASDAQ OMX Clearing AB 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
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