Nemo Link and Elia have had to publish a double consultation on changes to the access rules for the 1000MW Nemo Link Interconnector between GB and Belgium, because it is not clear whether the UK would remain in the EU’s Internal Energy Market (IEM) after Brexit. The company wants to introduce an intraday offering for power trades but it is not clear what the market status will be when the new product is launched.
Currently, Nemo Link capacity is offered implicitly into the day-ahead market, or market participants may purchase long term products through explicit auctions on the JAO Single Allocation Platform. Nemo Link wants to add an explicit intraday product to its product suite by the end of 2019. It has opened a consultation on the proposed rules, but “given the existing uncertainties surrounding Brexit”, the company says, Nemo Link has put forward both IEM and Non-IEM versions of the relevant rules for consultation. Respondents will have to consider both.
One of other of the sets of amendments should allow the introduction of an intraday capacity product for scenarios, following Brexit, where GB remains in the IEM or no longer be part of it.
The intraday capacity product will:
(a) Be auctioned explicitly until such time as Nemo Link joins the XBID project;
(b) Consist of four auctions for each forthcoming 6 hour fraction of the day;
(c) Include 24 hourly nomination gates; and
(d) Capacity will be nominated on the Regional Nomination Platform (RNP)
The double consultation closes on 5 August.