Press release BoxID: 655948 (ENTSO-E - European Network of Transmission System Operators for Electricity)
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Go-live of NWE Project a Major Step towards an Integrated European Electricity Market

(PresseBox) (Brussels, ) ENTSO-E welcomes today (4 February) the go-live of the North-Western Europe (NWE) day-ahead price coupling project as a major step towards realising a fully integrated European electricity market.

This project was chosen by ENTSO-E in 2010 and endorsed by the Electricity Regulatory Forum as the pilot for implementing pan-European day-ahead market coupling. The project reflects early completion of the requirements set out within the network code on capacity allocation and congestion management (NC CACM) which is currently being adopted as a European Regulation.

Speaking following the go-live ENTSO-E President Nick Winser said, "The launch of the NWE project is a significant step in realising a fully functioning pan-European electricity market. TSOs have worked closely with Power Exchanges and all stakeholders over the past number of years to provide a market framework that will result in the single largest electricity market worldwide, and today is the result of the dedication and cooperation of all participants. "

This highly complex project, which is the largest of its type ever undertaken, enables price coupling in countries that account for more than 75% of the total electricity consumption in Europe. A single algorithm, calculating simultaneously the market prices, net positions and electricity exchanges between market areas will be applied based on implicit auctions facilitated through the Price Coupling of Regions (PCR) solution.

ENTSO-E Board Vice-Chair and Co-Chair of the NWE project Bente Hagem said, "The benefits of electricity market integration are numerous; increased stability, greater competition and improved efficiencies to name but a few. The ultimate beneficiary of this is the European consumer who can expect the delivery of substantial efficiency savings and greater electricity provider choice. Today's launch demonstrates TSO's and ENTSO-E's commitment to implement European energy policy objectives."

With the go-live of the NWE project, all interconnectors between the following NWE countries will now be utilised with improved efficiency: Belgium, Denmark, Estonia, Finland, France, Germany/Austria, Great Britain, Latvia, Lithuania, Luxembourg, the Netherlands, Norway, Poland (via the SwePol Link), and Sweden.

ENTSO-E will continue working with all stakeholders to ensure that other regions follow as soon as possible to ensure full day-ahead market coupling is implemented across the whole of Europe.