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Norway : Hydro enters gross bidding agreement with Nord Pool Spot
Publish Date : 10-May-2013
Hydro has entered a gross bidding agreement with Nordic power exchange Nord Pool Spot, allowing the company to nominate all its sales and buy volumes separately to increase liquidity and transparency in the deregulated, hydropower-rich market.
Global aluminium company Hydro produces and operates around 9.5 TWh of hydropower in a normal year in Norway, making it the country's second-largest producer after state-owned Statkraft.
With an annual power consumption in Norway of around 12-13 TWh from four fully-owned and one part-owned smelter, Hydro is a high-volume player in the Nordic market and active within all instruments on offer at Nord Pool Spot.
"Our move to gross bidding will represent a significant increase in market liquidity, help optimize our internal processes and quality-assurance, and raise our flexibility," Rřnnaug Sćgrov Mysterud, head of physical market optimization in Hydro's Energy business area, said.
Hydro's Norwegian power production system consists of several hydropower stations located in the Telemark and Rrldal-Suldal regions in the NO2 price area, and Sogn in NO5. Hydro's fully-owned Karmřy smelter and part-owned Sřral smelter in Husnes are located in NO2, while the fully-owned Hřyanger and Ĺrdal smelters are situated in NO5, and Sunndal in NO3.
"Nord Pool Spot is pleased to welcome Hydro as the latest member to sign a gross bidding agreement. It is important that we continue to attract the full range of Nordic electricity generators and suppliers, to ensure a liquid, robust and transparent power market," said CEO of Nord Pool Spot, Mikael Lundin.
