The first week of trading since the launch of the BritNed cable has seen trading volumes on the energy exchange APX-ENDEX double.
A new daily record of 16,086 MW was achieved, more than double that of the previous record. The 1000 MW interconnector cable provides a link between markets in the UK and the Netherlands. The market coupling solution links the day-ahead markets by running a daily implicit auction.
Bert den Ouden, CEO of APX-ENDEX says: “The launch of the BritNed cable has been positively received as a part of larger European market coupling. We have seen strong growth in volumes and stable prices throughout the week and are excited to see that today the volumes are nearly double than a week ago when the auction on BritNed was launched.”
The first auction, on the 31st March, resulted in 8.1 GWh being traded with an average price of £50.93/MWh. Just yesterday, Thursday 7th April, 16.1 GWh traded on the auction and the average price of the day dropped to £48.84/MWh.
Established in 1999, APX-ENDEX provides exchange trading and data distribution services. APX-ENDEX has over 390 memberships from more than 15 countries.