More electricity exchanges confirm NWE price limits but no firm launch date
Electricity exchanges in Britain and the Nordic countries have confirmed they will put in place hourly price boundaries of -€500/MWh and €3,000/MWh when northwestern European (NWE) Day-ahead market coupling launches in around two months.
This means the limits will be harmonised across the N2EX and APX Day-ahead auctions in the UK, as well as on pan-Nordic exchange Nord Pool Spot. European exchange EPEX-Spot said last week it would enforce the price limits ( see EDEM 17 September ).
UK power traders have expressed doubts the November deadline will be met, with many in the market expecting a launch towards the second half of the month at the earliest. Neither UK-based exchange on Tuesday put forward a firmer date, with “a November launch” still being cited.
Nord Pool Spot, which also oversees the N2EX platform, published an overview of the main changes that the project will bring in relation to its members late last week.
The changes were also confirmed by APX business development director Andrew Claxton, speaking in central London. They include:
Auction gate closure will be 11:00 GMT/BST.
The auction calculation process will take longer, with prices published 42 minutes after gate closure.
A new algorithm called Euphemia will replace the previous one, SAPRI, and will be used to calculate UK auction prices and all countries and areas combined in NWE price coupling.
The UK will be coupled to both France and the Netherlands
In case of decoupling, for technical reasons, auction results will be delayed and interconnector capacities will not be included in auctions.
The NWE price coupling project will bring together the already coupled central and western Europe Day-ahead markets of France, Germany, Belgium, the Netherlands and Luxembourg with Denmark, Estonia, Finland, Austria, the UK, Latvia, Lithuania, Sweden and Norway ( see EDEM 13 August 2013 ). Jamie Stewart
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