Exchanges Agree on EU-Wide Intraday Power Market After DelayRachel Morison
Five European power exchanges will jointly develop a platform for intraday power trading after a delay of more than seven months and “intensive” negotiations, according to Nord Pool Spot AS, one of the bourses involved.
APX Group Inc., Belpex SA, Epex Spot SE, OMIE and Nord Pool Spot agreed to set up the platform together, the Oslo-based exchange said on its website. One bourse to host the platform was supposed to be chosen in June last year.
Market integration is intended to smooth power price differences between nations through better control of cross-border flows. The European Commission expects the intraday trading system to start by the end of this year, Sabine Berger, a Brussels-based spokeswoman for the EU’s regulatory arm, said on Feb. 6.
“We do not have an official, detailed time line at the moment but we are all committed to the project and work hard to reach the expected delivery,” Stina Johansen, a spokeswoman for Nord Pool Spot, said by e-mail.
An agreement was also signed with Deutsche Boerse AG to develop the technical system needed for the trading platform.
Amsterdam-based APX and its subsidiary Belpex offer trading for Dutch, U.K. and Belgian power. Nord Pool Spot covers the Nordic and Baltic regions and the U.K.; Epex in Paris handles trading for Germany, France, Austria and Switzerland; and Spain’s OMIE covers Spain and Portugal.