Lysaker, 17 January 2012

Power volume figures for N2EX, the UK power market jointly operated by Nord Pool Spot and NASDAQ OMX Commodities, reveal a strong growth in volumes and members for the exchange during 2011. N2EX, launched in January 2010, attracted 11 new members in 2011. This coupled with growth in trade from existing customers, the total traded volume more than doubled that achieved in 2010, and set a new record for the exchange.

The total amount traded on N2EX in 2011 was 45.6 TWh, more than twice the 19.6 TWh achieved in 2010. 18.7 TWh was traded on the auction (a sevenfold increase on 2010’s figure of 2.6 TWh), while the volume traded on the prompt and spot market rose from 17 TWh in 2010 to 26.9 TWh during 2011.

Since the start of 2011, N2EX’s day ahead auction volumes have seen consistent growth throughout the year, culminating in average daily volume of 128 GWh per day over the last three months of year.

The increased volume is the result of N2EX’s rise in membership coupled with greater confidence among existing members as new members join and fresh volume is traded.

UK futures volumes traded and cleared at NASDAQ OMX Commodities, which launched its UK futures market on 31 January 2011, amounted to 3.3 TWh. Since launch last year, the UK futures market now counts 15 entities trading.

The N2EX exchange now boasts 34 members, comprising the ‘big six’ utilities, banks, portfolio management companies and European energy businesses. Most recently N2EX welcomed on board J. Aron and GDF Suez Trading.

Earlier this month, the successful launch of gross bidding arrangements as an additional service provision for auction participants, prompted a record daily traded volume figure of 266 GWh.

Mikael Lundin, CEO of Nord Pool Spot, said: “A growing number of UK electricity producers and consumers of all sizes are ‘voting with their feet’ and coming on board with N2EX, attracted by our determination to build liquidity, efficiency and transparency in the UK power market.

“In 2012, N2EX will be offering a range of new products and services to its growing number of members to encourage greater competition in the UK power market.”

Geir Reigstad, Senior Vice President of NASDAQ OMX Commodities, commented: “It is clear that the UK power market participants have embraced the advantages of a cleared solution, which include increased transparency and security. We are very positive regarding the prospects for N2EX in 2012.”

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See more at: www.n2ex.com