ESRI Research Seminar: "How Nord Pool works, and its relevance to the Irish system"

Venue: ESRI, Whitaker Square, Sir John Rogerson's Quay, Dublin 2

Speaker: Odd Håkon Hoelsæter

Nord Pool Spot, the Nordic Power Exchange, is the leading power market in Europe. Nord Pool is also one of the major elements in the Nordic market design and will be presented as a part of this. Mr. Hoelsæter will give a presentation about the historical background, the philosophy behind the new market design and the implementation, which started in Norway in 1992. He will present Nord Pool's role in the process, and the development of both the market and Nord Pool until today. He will also present how Nord Pool works today. The EU has decided the that all Member States shall implement an EU target market model before the end of 2016, and the Nordic market with Nord Pool as a key element has many similarities to the EU target model. Mr. Hoelsæter will also comment on the EU's plans for one price setting methodology in the wholesale market, for a pan European market. The latest step in this direction was February 4th 2014 by implementation of a common price setting algorithm for North West Europe, including England and Wales.