OSLO, Feb 13 (Reuters) - EPEX SPOT, part of European energy bourse EEX, has received a licence to operate an intraday market in Norway, the country’s regulator said on Wednesday.
The regulator NVE said the permit would end a long-standing regional monopoly for Nordic power exchange Nord Pool and increase competition between trading platforms for spot electricity trading.
“NVE has announced a decision on a licence for the organisation and operation of the marketplace for the intraday market for EPEX SPOT,” the regulator said in a statement.
The licence applies for two years. The regulator is still looking into whether to grant EPEX another licence for day-ahead trades.
EPEX executive Wolfram Vogel said: “Having already received the NEMO (Nominated Electricity Market Operator) passport status in all other Nordic countries, this licence completes the portfolio and allows us to continue preparing market launches in the Nordics for our trading members.”
“EPEX SPOT plans to extend its intraday offer to the Nordics in the second half of 2019. There is no precise timeline yet,” an EPEX spokeswoman said.
Nord Pool was not immediately available for a comment.
EPEX had said in 2018 it was planning expansion in Denmark, Finland, Norway, Sweden, Estonia, Latvia, Lithuania and Poland, depending on progress in pooling locally nominated operators.
In January, EPEX reported an all-time record in its 2018 trading volumes, citing market alignment and new partnerships.
EPEX’s parent EEX is Deutsche Boerse’s flagship power derivatives market. EEX already trades financial power derivative contracts in the Nordics, competing with Nasdaq in the futures market.
Nord Pool is owned by power transmission system operators from the Nordic and Baltic countries. (Reporting by Lefteris Karagiannopoulos, editing by Terje Solsvik and Jane Merriman)