ACT NOW: Brexit uncertainty means double consultation on Nemo Link’s intraday product

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.

See the full consultation here

 

Further reading

Search and sort data on UK power assets, including interconnectors, via New Power’s online Database. Free access for subscribers

BritNed consults on access rules in the event of no-deal Brexit: intraday trades affected

Nemo Link consults on no-deal Brexit trading rules

Nemo Link: will power flow across the interconnector in a no-deal Brexit?

ElecLink seeks feedback on access and charges – but will re-assess charges in the event of a no-deal Brexit

Interconnector access rules agreed to cover no-deal Brexit

Nemo link with Belgium starts day-ahead trading tomorrow

Viking Link interconnector granted onshore planning approval

Energy traders will require new EU registration in the event of a no-deal Brexit, says Ofgem

 

 

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