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19.04.2012 13:31
Nord Pool Spot to Operate Britain’s First Virtual Electricity Hub
The purpose of the GB hub will be to facilitate open access and participation of all these parties and to ensure that there is a single electricity market price for GB, rather than potentially having differing prices on each GB exchange
AUTHOR: publics.bg


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Nord Pool Spot has been chosen to develop and operate a ‘virtual hub’ to facilitate the full participation of the GB electricity market in the North West European (NWE) market coupling project. 
 
Nord Pool Spot was selected following a competitive tendering exercise run by National Grid Interconnectors Ltd, the GB operator of the electricity interconnector to France (IFA), Reuters reported.
 
The virtual hub will facilitate the pooling of GB liquidity and the formation of a common reference price for electricity across all participating GB power exchanges by the end of 2012, in line with the objectives of the NWE project.
 
Welcoming the new agreement Mikael Lundin, CEO of Nord Pool Spot, said: “Nord Pool Spot is closely involved in the development of the Price Coupling of Regions (PCR) project and the NWE initiative.
 
“Our experience in market coupling has seen us already successfully integrating the Nordic countries and Estonia, working with the Polish power exchange to establish price coupling between the Nordic markets and Poland, as well as developing the N2EX market, operated jointly with Nasdaq OMX Commodities, in the UK.”
 
Under the NWE umbrella Nord Pool Spot, together with other GB and European energy exchanges, will deliver market coupling and capacity allocation services to Great Britain, the Central Western Europe region and the Nordic areas providing a common algorithm covering all requirements from the relevant transmission system operators.
 
In contrast to the other countries involved in the NWE market coupling project, the GB market allows for multiple power exchanges and interconnector operators to participate in the market. 
 
The purpose of the GB hub will be to facilitate open access and participation of all these parties and to ensure that there is a single electricity market price for GB, rather than potentially having differing prices on each GB exchange.

TAGS: Nord Pool Spot | Britain | electricity | market | power exchange | Europe 


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