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Market notices

NEWS

Croatian power market successfully opened

CROATIAN POWER EXCHANGE Ltd., CROPEX, and Nord Pool, Europe’s leading power market, are pleased to announce the successful launch of the first day-ahead power market in Croatia today, Wednesday 10th February, 2016.

The go-live of the day-ahead market follows a successful end-to-end testing period during January, 2016. It comes as a result of a 2015 agreement by Nord Pool to service CROPEX including implementation of systems and operations for the Croatian power market. The new CROPEX day-ahead market is operational as a part of the EU-wide Multi Regional Coupling (MRC).

At the occasion on successful launch of Croatian Power Day Ahead Market Silvio Brkić, CEO at CROPEX, said: “This represents historical date for power market development in Croatia, providing for the first time ever wholesale market price as well as transparent, liberalized and competitive trading environment for benefits of Croatian, as well as EU and Energy Community countries market participants. This accomplishment is committing us to make our best in continuing with started activities aimed at fully integrating Croatian power markets into EU single Day Ahead and Intra-Day power markets”.

CROPEX has been established in May, 2014 by Croatian Transmission System Operator Ltd. and CROATIAN ENERGY MARKET OPERATOR Ltd. as joint-venture company. Croatian Energy Regulatory Agency designated CROPEX as an NEMO for performing the single day-ahead and intraday market coupling, for an initial period of four years.

Commenting on the Croatian market launch, Mikael Lundin, CEO at Nord Pool, said: “At Nord Pool we have been working closely with key stakeholders in Croatia, playing a key role in the development of modern, transparent energy trading. We are proud to bring our heritage, expertise and technology to more markets across Europe.”

Nord Pool has been at the heart of the creation of the single, integrated European power market working closely with other Power Exchanges and with Transmission System Operators to develop and extend the Multi-Regional Coupling (MRC), which now accommodates some 85% of Europe’s electricity demand. MRC operates on a common price coupling algorithm and calculation, Price Coupling of Regions (PCR), developed and run by a grouping of European Power Exchanges including Nord Pool.

 

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