| Nord Pool Spot AS | |
|---|---|
| Type | Physical commodity exchange (energy exchange) |
| Location | Lysaker, Norway |
| Founded | 2002 |
| Owner | Statnett (30%) Svenska Kraftnät (30%) Fingrid (20%) Energinet.dk (20%) |
| Key people | Mikael Lundin (CEO) Bente Hagem (Chairman) |
| Currency | NOK, SEK, DKK, EUR |
| Commodities | Electric power |
| Website | www.nordpoolspot.com |
Nord Pool Spot runs the largest market for electrical energy in the world, measured in volume traded (TWh) and in market share. It operates in Norway, Denmark, Sweden, Finland, and Estonia. More than 70% of the total consumption of electrical energy in the Nordic market is traded through Nord Pool Spot.[1] It was the world's first multinational exchange for trading electric power.[2][3] Nord Pool Spot offers both day-ahead and intraday markets.
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Nord Pool Spot AS was established in 2002, when the derivatives and energy markets were separated from Nord Pool ASA (now NASDAQ OMX Commodities Europe). All Nord Pool spot market activities were transferred into Nord Pool Spot AS. In 2005, Nord Pool Spot expanded its activities to Germany by opening the KONTEK bidding area, and one year later opened its office in Berlin.
On 12 January 2010, Nord Pool Spot in cooperation with NASDAQ OMX Commodities launched the N2EX power market in the United Kingdom.[4] On 2 February 2010, Nord Pool Spot signed an agreement with the Estonian national grid company Elering to create the Nord Pool Spot Estlink bidding area starting from 1 April 2010.[5] Nord Pool Spot also delivered the technical solution for the Lithuanian market place Baltpool.[6] On 9 June 2010, APX-ENDEX, Belpex and Nord Pool Spot agreed to create a cross-border intraday electricity market based on Nord Pool Spot's Elbas technology. The common intraday market will include Nordic countries, Germany, the Netherlands, and Belgium.[7]
It is owned by the national grid companies Fingrid, Energinet.dk, Statnett, and Svenska Kraftnät.[2] Nord Pool Spot has the main office in Lysaker (Oslo) and offices in Fredericia, Stockholm, Helsinki, Tallinn and London.[8][9] It has wholly owned subsidiaries Nord Pool Spot AB and Nord Pool Finland Oy. In addition, Nord Pool Spot has 50% of shares in the gas exchange Nord Pool Gas A/S, the other shareholder is being Energinet.dk.[9] In addition, in the United Kingdom Nord Pool Spot owns in cooperation with NASDAQ OMX Commodities the N2EX power market, which is not a legal entity.[4]
The Nord Pool Spot market membership includes energy producers, energy intensive industries, large consumers, distributors, funds, investment companies, banks, brokers, utility companies and financial institutions. Nord Pool Spot AS has a customer base of 317 in Elspot and 55 in Elbas.
Nord Pool Spot AS is the world's largest exchange for electrical energy measured in volume (300 TWh) and market share (73.5% in 2009). It operates the day-ahead market for electrical energy, Elspot, and the intraday market, Elbas.