New within day Nemo Link products make it easier for market participants to manage intermittent renewables.
Since operational go-live in February 2019 it has been possible to trade electricity via the Nemo Link interconnector between Great Britain and Belgium on a Long Term and Day-ahead basis. From 14 November 2019 it is now also possible to trade electricity between both countries within day.
Intraday market trading is a very important option for electricity market participants. With rapidly growing intermittent renewable production, it is becoming an increasing challenge for market participants to remain in balance after the closing of the day-ahead market.
The capability to be balanced closer to real time operations is beneficial for market participants as it allows them to take unexpected changes in consumption and production into account.
The new explicit intraday capacity product on Nemo Link, with its hourly nomination gates, brings additional options and provides a level of flexibility welcomed by market players who trade both renewable and conventional energy.
Market participants can now participate in the four daily intraday capacity auctions that are organized by the Joint Allocation Office (JAO) and acquire capacity rights on the Nemo Link interconnector for periods up to 6 hours.
More information on Nemo Link’s trading framework and its new Intraday product can be found here.
The Nemo Link interconnector is a joint venture between National Grid Interconnector Holdings Limited, a subsidiary company of the UK’s National Grid Plc, and the Belgian Elia Group.