From Monday 27 October 2014 the Ethical Guidelines will be removed from the Nord Pool Spot rulebook.
Nord Pool Spot believes that the Ethical Guidelines no longer need to be included as a rulebook document as their subject matter is, to a large extent, covered by other parts of the Nord Pool Spot rulebook. Removal of the Ethical Guidelines we believe will have no effect on the market.
As a matter of law the Ethical Guidelines are currently explicitly stated to be "non-sanctionable", and the only "sanction" available through the Ethical Guidelines in case of breach is that the Market Council (Customer Advisory Board) may "give an official statement" regarding the matter.
Nord Pool Spot is of the opinion, as a general principle, that the rulebook should only contain legally binding documents.
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 2013 the group had a total turnover of 493 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, 13 October 2014
For more information please contact:
Stina Johansen, Head of Communications, +47 916 50 603 (press inquiries)