New company established to develop European energy market of the future
Nord Pool, Europe’s leading power market, and the energy company Agder Energi have announced the creation of new company - NODES - to establish the power marketplace of the future.
Supporting the EU drive towards an emission-free society, NODES will enable the use of flexibility in the grid by creating an open, integrated market place available to all flexibility providers and grid operators.
NODES will connect local and central power markets to an integrated market. It will be a fully automated marketplace capable of real-time trading of available flexibility in the market with transparent prices.
Welcoming the new company, Tom Nysted, CEO at Agder Energi, commented: “When we look at the challenges our power system is facing today, we need to be innovative. The idea behind this market place is to create a power system capable of handling larger shares of renewable energy and work in a more efficient way.
“Agder Energi has already demonstrated, together with Microsoft, how advanced technology can make use of the available flexibility in the system and make the grid smarter. Through this project we quickly saw the need for a new market place for flexibility trading. This solution could be an alternative to grid investments, and create added value for grid owners and flexibility providers.
“We are pleased that alongside Nord Pool, we will continue to lead in this development and ensure that NODES accelerates the creation of a new neutral, independent and secure power trading market for Europe.”
Erling Thiis, Acting CEO of Nord Pool, added: “Nord Pool has the ambition to pioneer the development of power markets.
“With NODES we will develop an independent market operator providing transparent pricing, secure trading, and risk-free settlement for power trading. This is a solution we strongly believe will address some of the challenges we see with an increasingly decentralised power sector - where local power production and consumer flexibility need to work efficiently together in a neutral market.”
NODES is already running a fully automated version of a local platform in south Norway where the concept has proven deferred transformer investments of 4.3 million EUR for Agder Energi. NODES is currently cooperating with several interested parties for launch of the new marketplace. We welcome interest from parties wanting to take part in early start-ups. Please contact:
About Agder Energi
Agder Energi is Norway’s third largest energy group in terms of hydroelectric production. The group’s 49 wholly- and partly-owned power stations produce around 8.1 TWh of renewable energy on an annual basis.
Agder Energi is a vertically integrated energy company, with operations in the whole value chain from production to distribution and sales of electricity. In recent years Agder Energi has also invested in assets in Germany and the Nordics, and have a regulatory division in Brussels.
Agder Energi is owned by the 30 Agder municipalities (54.5%) and Statkraft Industrial Holding AS (45.5%). The company’s head office is based in Kristiansand
About Nord Pool
Nord Pool, Europe’s leading power market, delivers efficient, simple and secure trading across Europe. The company offers day-ahead and intraday trading, clearing and settlement to customers regardless of size or location. Today 380 companies from 20 countries trade on Nord Pool’s markets.
Nord Pool operates markets in the Nordic and Baltic regions, Germany and the UK, and is a Nominated Electricity Market Operator (NEMO) in 15 European countries, while also servicing power markets in Croatia and Bulgaria. In 2017 Nord Pool had a total turnover of 512 TWh traded power. The company has offices in Oslo, Stockholm, Helsinki, Tallinn, London and Berlin.
Nord Pool has 25 years of power market experience built on offering flexibility, transparency, innovation, greater choice and participation to our customers.