Nord Pool Spot is pleased to announce that gate closure for the Elbas market in Norway changes from 2 hours before the delivery hour to 1 hour before the delivery hour, from Tuesday 26 February 2013. The change of gate closure, a decision taken by the Norwegian TSO, Statnett, is important to harmonise Norway’s market with markets across the Nordic region, Estonia and Germany.
Elbas recorded good results in 2012, with 3.2 TWh traded compared to 2.7 TWh in 2011. This corresponds to a 18.4 per cent increase in trading volume. More than 30 per cent of the trades in the Elbas market take place in the last hour before the delivery hour which the Norwegian participants have been excluded from.
Elbas is Nord Pool Spot's continuous cross-border intraday market for the Nordic region, Estonia and Germany where adjustments to trades in the day-ahead market, Elspot, are made. Elbas plays a vital complementary role to Elspot in creating an efficient power market.
Gate closure for Elbas trade between Norway and the Netherlands on the NorNed cable will remain at 2 hours until further notice.
About Nord Pool Spot
Nord Pool Spot operates Europe’s leading power markets, offering both day-ahead and intraday trading to its members. 370 companies from 20 countries trade on Nord Pool Spot’s markets in the Nordic and Baltic regions, and on our UK market N2EX. In 2012 the group had a total turnover of 432 TWh traded power. Our markets are operated from offices in Oslo, Stockholm, Helsinki, Copenhagen, Tallinn and London. Nord Pool Spot strives continually to strengthen its business by working with integrity, together with members and stakeholders, to achieve excellence.
Lysaker, 21 February 2013
For further information, please contact:
Elbas trading desk, +47 67 10 91 15
Stina Johansen, Head of Communications, +47 916 50 603