NWE electricity market coupling targets 26 Nov launch
The Northwestern European (NWE) Day-ahead market coupling is set to launch on 26 November for power delivered the following day, European electricity exchanges confirmed on Monday.
The target date was agreed by the 17 project partners in the NWE market coupling project joint steering committee last week, including four power exchanges and 13 grid operators.
However, the date is still subject to successful testing, contractual arrangements and final regulatory approval.
The price coupling project will bring together the already coupled central and west Europe (CWE) day-ahead markets of France, Germany, Belgium, the Netherlands and Luxembourg, with Denmark, Estonia, Finland, Austria, the UK, Latvia, Lithuania, Sweden and Norway.
The NWE region will also run in a “common synchronised mode” with the South-West Europe (SWE) market area, which includes France, Spain and Portugal. The regions are part of the price coupling of the regions (PCR) project, which aims to develop a single price coupling to calculate prices across Europe, as part of greater market integration across the bloc.
A new algorithm called Euphemia will apply to the whole market region, and will be used to calculate UK auction prices and all countries and areas combined in NWE price coupling.
Key changes to current market coupling procedures include a longer calculation process, with prices published 42 minutes after gate closure, and UK auction gate closure at 11:00 ( see EDEM 24 September 2013 ).
The electricity exchanges involved, including APX, Belpex, EPEX SPOT and Nord Pool Spot, have also agreed to put in place harmonised hourly boundaries of -€500/MWh and €3,000/MWh.
Nord Pool Spot also specified minimum and maximum price caps on Elspot in local currencies on Monday, including Norwegian kroner (NKr) -4,500 and NKr 27,000; Swedish kronor (SKr) -5,000 and SKr 30,000; and Danish kroner (DKr) -4,000 and DKr 24,000, although the official caps will remain the euro-denominated figures.
Simulation testing for the NWE price coupling project started on 6 August ( see EDEM 13 August 2013 ). Grid operators include 50Hertz, Amprion, Creos, Elia, Energinet.dk, Fingrid, National Grid, RTE, Statnett, Svenska Kraftnat, both Dutch and German subsidiaries of Tennet and TransnetBW. Sonja Caymaz
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