Trading takes place on two complementary markets – Elspot (for day-ahead trading) and Elbas (for intraday trading). Together they play an essential role in providing a well-functioning power market in northern Europe.
Elspot and Elbas working together
In 2012, 432 TWh were traded through Nord Pool Spot, representing a value of EUR 11.7 billion. 334 TWh were traded on Elspot, the day-ahead market. In addition Elbas, the intraday market, continues to play an essential role in creating the necessary balance between supply and demand of power. In 2012, the turnover on Elbas was 3.2 TWh.
Elspot works as an auction, where hourly market prices are calculated at 12:00 CET for delivery of power the next day. However, incidents may take place after the calculation and prior to the delivery time that might upset this balance. For example, a power plant may stop operating in Norway, or strong winds may cause higher power generation than planned at wind turbine plants in Denmark. At Elbas, buyers and sellers can trade power close to delivery hour to bring the market back into balance. They do this while reducing the risk of unknown imbalance costs and potentially improving profits for members of the Nord Pool Spot power market.
High participation secures a liquid market
Today, there are around 370 members trading at Nord Pool Spot’s power market. 118 of these also trade on Elbas. In both markets members are major energy companies in the region, plus a number of smaller and more local players. Diversity in the market and a high number of companies trading ensure a highly liquid market and good conditions for correct price-setting.
See menu at left for information on how to trade and other services provided by Nord Pool Spot.