London, 4 April 2011

N2EX reports first quarter physical market volumes, 2011: 1.8 TWh was traded on the auction, and 6.1 TWh in the prompt market. N2EX has seen a steady growth in volumes, particularly for the day-ahead auction which saw an average monthly increase of 13.5% percent in volumes from January 2011 until end of March 2011.

For the delivery date 29 March, a new all-time high record was set in the day-ahead auction of 33.6 GWh. The staggered day-ahead auction for the weekend of week 12 also saw a new all-time high record of 72.9 GWh.

“We are very pleased to see that both volumes and the number of members on N2EX are continuously growing. Our members are supportive and committed to the N2EX market offerings and we continue our ambitious growth strategy in the UK market,” said Hans Randen, Director European Integration of Nord Pool Spot.

“The launch of the BritNed cable in April 2011 is also an important milestone for the development of the UK market, and represents additional opportunities to the N2EX members,” Randen continued. “UK market participants now get access to capacity on the BritNed cable through explicit auctions. N2EX expects to see growing volumes during the coming months as market participants holding explicit capacity can trade their volumes on an already liquid N2EX market,” concluded Randen.

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