Norway grants EPEX SPOT power trading licence ending Nord Pool monopoly
13/02/2019 11:40
By Lefteris Karagiannopoulos
OSLO, Feb 13 (Reuters) - EPEX SPOT, part of European energy
bourse EEX, has received a licence to operate an intraday market
in Norway, the country's regulator said on Wednesday.
The regulator NVE said the permit would end a long-standing
regional monopoly for Nordic power exchange Nord Pool and
increase competition between trading platforms for spot
electricity trading.
"NVE has announced a decision on a licence for the
organisation and operation of the marketplace for the intraday
market for EPEX SPOT," the regulator said in a statement.
The licence applies for two years. The regulator is still
looking into whether to grant EPEX another licence for day-ahead
trades.
EPEX executive Wolfram Vogel said: "Having already received
the NEMO (Nominated Electricity Market Operator) passport status
in all other Nordic countries, this licence completes the
portfolio and allows us to continue preparing market launches in
the Nordics for our trading members."
"EPEX SPOT plans to extend its intraday offer to the Nordics
in the second half of 2019. There is no precise timeline yet,"
an EPEX spokeswoman said.
Nord Pool was not immediately available for a comment.
EPEX had said in 2018 it was planning expansion in Denmark,
Finland, Norway, Sweden, Estonia, Latvia, Lithuania and Poland,
depending on progress in pooling locally nominated operators.
In January, EPEX reported an all-time record in its 2018
trading volumes, citing market alignment and new partnerships.
urn:newsml:reuters.com:*:nL8N1ZA1A3
EPEX's parent EEX is Deutsche Boerse's DB1Gn.DE flagship
power derivatives market. EEX already trades financial power
derivative contracts in the Nordics, competing with Nasdaq
NDAQ.O in the futures market.
Nord Pool is owned by power transmission system operators
from the Nordic and Baltic countries.
(Reporting by Lefteris Karagiannopoulos, editing by Terje
Solsvik and Jane Merriman)
((lefteris.karagiannopoulos@thomsonreuters.com; +47 23316519;
Reuters Messaging:
lefteris.karagiannopoulos.thomsonreuters@reuters.net))