Nord Pool, Europe’s leading power market, is together with the Croatian Power Exchange Ltd., CROPEX, pleased to announce the successful launch of the first day-ahead power market in Croatia today, Wednesday 10 February (for delivery Thursday 11 February).
The go-live of the market follows a successful end-to-end testing period during January. It comes as a result of a 2015 agreement by Nord Pool to service CROPEX including implementation of systems and operations for the Croatian power market. The new CROPEX day-ahead market is operational as a part of the EU-wide Multi Regional Coupling (MRC).
The market launch in Croatia follows the opening of the Bulgarian power market on the 19th January this year, after the Independent Bulgarian Energy Exchange (IBEX) and Nord Pool agreed during 2015 to develop a transparent and efficient Bulgarian day-ahead market.
Commenting on the two market launches, Mikael Lundin, CEO at Nord Pool, said: “At Nord Pool we have been working closely with key stakeholders in Croatia and Bulgaria, playing a key role in the development of modern, transparent energy trading. We are proud to bring our heritage, expertise and technology to more markets across Europe.”
Nord Pool has been at the heart of the creation of the single, integrated European power market working closely with other Power Exchanges and with Transmission System Operators to develop and extend the Multi-Regional Coupling (MRC), which now accommodates some 85% of Europe’s electricity demand. MRC operates on a common price coupling algorithm and calculation, Price Coupling of Regions (PCR), developed and run by a grouping of European Power Exchanges including Nord Pool.
About Nord Pool
Nord Pool operates Europe’s leading power markets, offering both day-ahead and intraday trading to its members. 380 companies from 20 countries trade on Nord Pool’s markets in the Nordic and Baltic regions, and on our UK market N2EX. In 2015 the group had a total turnover of 489 TWh traded power. Our markets are operated from offices in Oslo, Stockholm, Helsinki, Tallinn and London. Nord Pool strives continually to strengthen its business by working with integrity, together with members and stakeholders, to achieve excellence.
Lysaker, 10 February 2016
For further information, please contact:
Stina Johansen, Communications Director, +47 916 50 603