Two of Europe’s largest power exchanges are teaming up to create a new spot market. Nord Pool Spot and EPEX SPOT say that their new joint venture, as yet unnamed, could make it easier for traders and help customers get better prices as a result.
The new platform will allow traders to buy and sell power from a wider pool of providers, although the firms themselves will continue as separate power exchanges, keeping their rulebooks and being in charge of their respective customers.
Jean-François Conil-Lacoste, CEO of the Paris-based EPEX SPOT (pictured) said that bringing the two together would simplify the market and make it more efficient. He added that enlarging the supply and demand by coupling the markets gives consumers the chance for better prices.
The collaboration marks an important step towards bringing the whole European market together, an EU aim for 2014, said Mikael Lundin at Nord Pool Spot. The CEO of the Nordic energy exchange said: “Working together with more resources, we can create the best IT applications and solutions, while keeping close to our customers in our respective regional markets.”
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