As part of the North-Western Europe price coupling project, N2EX was today successfully coupled with the wider North-Western European electricity markets. The successful implementation and growth of N2EX has been instrumental in enabling the GB market to couple with Europe. 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 deliver a trading platform which has been developed by the market, for the market.
The GB Virtual Hub went live today, in parallel with NWE market coupling, marking the culmination of a two year project which has seen Nord Pool Spot successfully develop Europe’s first ever virtual hub to facilitate market participants’ access to both liquidity and interconnector capacity. The development of market coupling will bring with it a new era for European electricity markets, as the industry looks to better optimise the use of interconnector capacity on a daily basis, bringing with it increased liquidity. Nord Pool Spot has been proud to play its part in delivering NWE market coupling, and the GB Virtual Hub, having pioneered the integration of power markets, particularly in the Nordic region, over the past 10 years.
Welcoming the launch of the NWE price-coupling, Mikael Lundin, CEO of Nord Pool Spot, said: “Nord Pool Spot has, for many years, been strongly committed to the closer integration of European power markets, and we are both proud and excited to see the go-live of the NWE and PCR projects today. The exemplary positive and valuable cooperation displayed by the power exchanges, TSOs and regulators has taken us one big step closer to achieving a common European power market. At Nord Pool Spot we strongly believe that a more closely connected European power market will improve the efficient use of energy across national borders and lead to a more transparent market.”