As you may already be aware, on Saturday 19 July 2014 maximum prices were reached in three hours in the Baltic market area. This situation triggers a procedure whereby additional reserves are entered as orders in the market, followed by a re-run of the market coupling process.
This market event was properly managed in accordance with prescribed procedures but it inevitably resulted in a delay in the publication of the day’s market result.
At 12:20 BST on Saturday 19 July an Urgent Auction Message warning of a potential decoupling was published, according to predefined procedures. Indeed as long as the results are not final, there is always a risk of decoupling, even if preliminary results have already been published. 12:20 BST is the trigger for communication of a potential full decoupling should the market coupling process not be finalized.
We would like to stress that, in this instance, there were no technical issues which posed a risk to the coupling process.
We apologize for any inconvenience that this incident may have caused.
For further information, please contact:
N2EX Trading operations
T 24/7: +44 207 065 8140 | T: +47 6710 9190
E: n2ex@npspot.com | W: www.n2ex.com | W: www.nordpoolspot.com