Nord Pool Spot has completed a revision of our Trading agreements to align these with the Trading rules that took effect from 1 January 2011. Nord Pool Spot has included changes to the Trading rules related to the market setup on the Estonian-Latvian border and is also introducing amendments to the Trading rules related to the launch of the new bidding area in Lithuania 18 June 2012. All revised agreements and the updated Trading rules can be found on Nord Pool Spot’s website.
All Trading agreements have been updated and published
All Trading agreements for Nord Pool Spot’s members are revised to align them with the Trading rules that took effect 1 January 2011 (Exchange Info No 72/2011). The last updated agreements are i) Agreement on Disclosure of Information from Parent Company, ii) On-Demand Guarantee, iii) Pledged Cash Account Agreement, iv) Non-Pledged Cash Account Agreement, v) Netting of Collateral Call Agreement, vi) Gross Bidding Agreement and vii) Market Maker Agreement.
The updated agreements can be found here. The agreements appear in a new format, but there are no material changes to the agreements.
Changes to the Trading rules on the Estonian – Latvian border
Nord Pool Spot is with Estonian TSO Elering in the process of changing the current setup with the import and export areas towards Latvia. The two areas ELE and ELI will be merged into one area ELE for both imports and exports. The provision that members are always settled with the Estonian price will be removed. Instead the new ELE area will form a separate price, different from the Estonian price in case of congestion on the border. The new appendix connected to the new area can be found here. This change will take place on 18 June 2012 as the first delivery date for the new setup.
The regulation in import area towards Russia will remain without material changes, but will appear in a new appendix. The changes in the Trading rules will take effect from 18 June 2012.
The special regulations in the Trading rules connected to the existing setup Appendix 11 “Special regulations for trading in Estonian import and export areas towards Russia and Latvia” will be replaced by the two appendices described above.
Changes to the Trading rules related to the launch of the new bidding area in Lithuania
Nord Pool Spot will start as market operator in Lithuania from 18 June 2012, and has agreed on congestion management solutions with Litgrid. The congestion management solution consists of dedicated portfolios for import and exports on the borders between Lithuania-Latvia and Lithuania- Kaliningrad. The bidding in the dedicated portfolios is described in the new appendix. On the border between Lithuania and Belarus, import and export areas will be used as a congestion management solution. The new appendix covering the Lithuanian-Belarus border can be found here. Disclosure requirements will be introduced in Lithuania. The changes in the Trading Rules will take effect from 18 June 2012.
About Nord Pool Spot
Nord Pool Spot runs the leading power market in Europe and offers both day-ahead and intraday markets to its members. 350 companies from 20 countries trade on the market. The Nord Pool Spot group has offices in Oslo, Stockholm, Helsinki, Copenhagen, Tallinn and London. In 2011 the group had a total turnover of 316 TWh, which includes the auction volume in the UK market N2EX.
Lysaker, 17 April 2012
For more information, please contact:
Stina Johansen, Communications Manager Nordic, +47 916 50 603