No.17/2009 All time high volumes traded on Elbas - Nord Pool Spot’s international intraday market

The intraday volume traded on Elbas continues to increase, reaching a record volume of 2 TWh this week. By the end of the third quarter this year, the volume traded on Elbas exceeded the total traded volume of 2008.

The growth in volume is a result of increased usage by existing participants, as well as a steady flow of new participants, especially power companies from Germany and adjoining markets.

The volume traded on Elbas is expected to grow at accelerated speed during 2010 for three main reasons:

• Norway joined Elbas this year, providing power companies access to counterparts from the whole Nordic and German intraday market. Previously the power companies only had access to counterparts in the Norwegian balancing market.
  
• Recently Statnett implemented the two-price system in the balancing market, increasing the risk for producers. Elbas ensures predictability for the participants and provides the potential for better prices compared to the balancing market.
  
• In the German market Elbas is an alternative for power companies trading in the balancing market.   
  

 “We are very pleased to see that 2009 will be yet another year of turnover records in Elbas. As the only cross-border intraday market in Europe we can provide our customers with counterparts from the whole Nordic region as well as Germany”, Hans Randen, Acting CEO of Nord Pool Spot AS comments.

As of today, 81 participants are active on the Elbas market. Vattenfall AB, E.ON Energy Trading SE and Fortum Power and Heat Oy are market makers in Sweden and Finland, providing prices on the intraday market.

About Elbas – the only cross-border intraday market
Elbas was launched in 1999 and is an electronic trading platform providing continuous trading of power contracts. Up to one hour prior to delivery, Elbas facilitates trading of one-hour power contracts or tailor-made block bids. The participants are power producers, power intensive industries, portfolio managers and traders. As the only market, Elbas manages cross-border flows and capacities across all of Denmark, Finland, Germany, Norway and Sweden. Nord Pool Spot AS acts as counterparty in all contracts ensuring settlement for participants. All trades are physically settled with the respective TSOs (transmission system operators).

About Nord Pool Spot
Nord Pool Spot runs the largest physical power market in the world, offering both day-ahead and intraday markets to its participants. 330 companies from 20 countries trade daily on the exchange. The Nord Pool Spot group has offices in Oslo, Helsinki, Stockholm, Fredericia (Denmark) and London. Nord Pool Spot is owned by the Nordic transmission system operators. In 2008 the group had a turnover of 300 TWh representing a value of EUR 15.0 billion.  

Lysaker, 6 November 2009

For further information please contact Nord Pool Spot:

Siw Hauge, Director communications, phone  +47 90 61 59 92