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Nordic Power Market Does Not Need Reform, Nord Pool Spot Says

The Norwegian power regulator’s proposed changes to the Nordic electricity market are not warranted, and would have a negative impact on trading, the Oslo-based Nord Pool Spot AS exchange said.

“We raise a question mark over the proposal,” Stina Johansen, a spokeswoman at Nord Pool Spot, said by e-mail from Oslo today. “The Norwegian and Nordic markets work well, using a model that has been set up and adjusted over several years, and which offers a liquid and robust market.”

The Nordic region should consider having smaller price zones, potentially with separate values for each power plant or river system, in a move to so-called nodal pricing, Norway’s energy and water directorate NVE said in a report on Oct. 18.

The Nordic setup for power trading is used “as a basis for developing European power markets, and is central to the ongoing integration of electricity trading,” Johansen said.

The exchange was the first liberalized power market to develop in Europe.

The regulator’s proposal has also drawn criticism from the Nordic derivatives market. It is “a step in completely the wrong direction,” Sara Aadnesen, spokeswoman for the Nasdaq OMX Group Inc., which operates an Oslo-based energy exchange, said on Oct. 23 by e-mail.

Nord Pool Spot is the world’s largest multinational power exchange, where 370 buyers and sellers from 20 countries match supply and demand and price electricity for the following 24 hours in Norway, Sweden, Finland and Denmark, as well as Estonia and Lithuania.

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