February Nord Pool the Nordic power exchange GROUP MARKET REPORT Physical market Nord Pool Spot AS Turnover in the physical market in February was 27.6 TWh (1 TWh = 1 billion KWh). This was a decrease of 7. per cent from January (29.7 TWh). In February 27, turnover was 27.5 TWh. TWh 35 3 25 Spot turnover monthly 21- EUR/MWh 8 6 4 Average system price/month 2 15 1 5 21 22 23 24 25 26 27 2-2 21 22 23 24 25 26 27 The exchange's market share in February was 74.7 per cent, an increase of 1.4 percentage points from January. Compared with February 27, this represents an increase of 3.8 percentage points. The average spot price in February was EUR 38.5/MWh, a decrease of 7.34 EUR/MWh, or 16. per cent, from the preceding month. Compared with February 27, the figure represents an increase of 33.6 per cent (EUR 28.82/MWh). Power imports/exports in the Nordic market, February : The figures for import/export between the Nordic countries and the rest of Europe show that the Nordic region exported 588 GWh in February.
GWh 3 2 1-1 Exchange with Nordic area monthly 23- Turnover of cleared bilateral market trades in February was 93.1 TWh against 139.8 TWh in January. In the same period in 27, the figure was 89.7 TWh Turnover of traded and cleared contracts in February was 232.1 TWh against 288.5 TWh in January. In the same period in 27, the figure was 149.2 TWh. -2 23 24 25 26 27 Germ any Es tonia Poland Rus sia Net In February 27, 822 GWh were imported. The import of power into the Nordic region derives from Russia, Poland, Germany and Estonia. Looking at the physical electricity flows between the countries, there were exports from Denmark (198 GWh), Sweden (95 GWh) and Norway (959 GWh) while Finland (1,474 GWh), was an importer. Development European power prices and volume The figure below gives an overview of the spot prices for the largest exchanges in Europe since 23, Nord Pool (Nordics), EEX (Germany) and Powernext (France). EUR/MWh 1-8 6 4 2 Spot prices (NP, EEX, PWX) 23 24 25 26 27 The value of the financial contracts (financial market and clearing) in February was EUR 9,728 million against EUR 12,8 million in January. The number of active participants was 19, and they executed a total of 17,383 transactions. In January, the corresponding figures were 18 participants and 11,986 transactions. In February 2.6 million tonnes CO 2 were traded and cleared, against 13.2 million tonnes in January (1 tonne CO 2 =1 EUA=1 CER). The value of the contracts was EUR 358 million. In February 27, 5.3 million tonnes were traded and cleared, at a value of EUR 42.3 million. EUR/ tco2 4 3 2 1 EUA/CER prices 26 26 27 27 EUADEC-8 EUADEC-9 CERDEC-8 EEX PWX NP Spot Financial market and clearing - Nord Pool ASA/ Nord Pool Clearing ASA Turnover on the exchange in February was 139.1 TWh against 148.7 TWh in January. The notional value of the turnover in February was EUR 6,76 million.
EUA 25 EUA/CER turnover Turnover Nord Pool group 2 15 1 TWh 4 3 Turnover all markets 5 26-1 26-7 27-1 27-7 -1 Financial Market Future electricity prices OTC These prices indicate the market's expectations of future power prices in the wholesale market. Trading in the financial market (the future power market) indicates a price for the forward contract for Q2 of 32.25 EUR/MWh, down from 4.15 EUR/MWh in January. 2 1 1993 1994 1995 1996 1997 1998 1999 2 21 22 23 24 25 26 27 Elspot & Elbas Financial Market Clearing See enclosed tables for more information. EUR/MWh 1 8 Spot and forward prices February 6 4 2 1999 21 23 25 27 29 211 213 215 Spot Price Month Fwd Q & Yr Fwd In February, the price for the Q3 contract decreased from EUR/MWh 42.15 to 38.75. For the annual contract for 29, the price increased from EUR/MWh 5. to 52.75 in February.
For further information about the statistics or the slides material, please contact: FINLAND: Nord Pool Finland OY Karri Mäkelä, director sales & marketing Tel: +358 9 684 481 E-mail: km@npspot.com SWEDEN: Nord Pool Spot AB Urban Hammarstedt, director trading Tel: +46 8 555 166 17 E-mail: uh@npspot.com DENMARK: Nord Pool Spot AS Anders Houmøller, director business development Tel: +45 6311 23 E-mail: ah@npspot.com NORWAY: Nord Pool group Lars Galtung, vice president communications Tel: +47 6752 88 E-mail: lars.galtung@nordpool.com
Nord Pool monthly report February Physical market, Nord Pool Spot AS Elspot prices (EUR/MWh) February January February 27 Jan-Feb Jan-Feb 27 Mar 27 - Feb System price 38.5 45.84 28.82 84.34 56.4 3.2 Århus 47.81 47.34 28.47 95.16 54.13 35.69 Copenhagen 44.2 47.11 3.59 91.13 57.89 35.7 Finland 39.78 46.12 3.8 85.9 57.54 32.32 Oslo 36.89 45.32 27.67 82.21 55.37 27.92 Trondheim 4.75 46.31 3.13 87.6 57.98 31.94 Tromsø 39.7 46. 3.1 85.7 57.85 31.65 Sweden 39.76 46.12 3.13 85.88 57.6 32.56 Kontek 58.74 55.98 3.39 114.71 61.73 4.84 Turnover, Spot TWh 27.6 29.7 27.5 57.3 56.2 291.6 meur 1,129.6 1,393.2 829.4 2,522.7 1,631.6 9,959.6 GWh/day 951.4 957.2 98.6 954.4 953.3 796.7 meur/day 38.95 44.94 29.62 42.5 27.65 27.21 Market share 74.7 % 73.4 % 7.9 % 74. % 71.6 % 72.4 % Turnover, Elbas GWh 95.3 135.9 87. 231.2 21.3 1,645.7 meur 4.4 6.8 2.6 11.3 6.3 58.7 GWh/day 3.29 4.38 3.11 3.85 3.56 4.5 meur/day.55.76.33.66.37.51 Physical electricity flows net GWh (- export / + import) Denmark -198-43 -846-628 -1,483-88 Finland 1,474 1,651 1,219 3,125 2,571 12,665 Norway -959-493 -69-1,452-286 -11,294 Sweden -95-88 1,58-1,785 688-985 The Nordic Region -588-152 822-74 1,49 298
Financial market, Nord Pool ASA Financial electricity contracts Closing prices, forward contracts February January February 27 2 nd quarter 32.25 4.15 36.95 3 rd quarter 38.75 42.15 35. Year 29 52.75 5. 41. Year 21 52.53 5.5 41.75 Jan-Feb Jan-Feb 27 Mar 27 - Feb Turnover on the exchange TWh 139.1 148.7 59.5 287.8 134.5 1213.2 meur 6,76 7,15 1,822 13,226 4,177 52,252 Number of transactions 13,35 14,233 7,714 27,268 17,419 118,48 GWh/day 6,622 6,76 2,974 6,693 3,22 4,834 meur/day 289.3 325. 91.1 37.6 99.5 28.2 No. transactions/day 62.7 647. 385.7 634.1 414.7 472. Clearing turnover TWh 232.1 288.5 149.2 52.7 355.6 2,534.2 meur 9,728 12,8 3,846 21,89 8,765 94,688 Number of transactions 17,383 19,314 11,986 36,697 26,816 169,218 GWh/day 11,54 13,115 7,459 12,18 8,468 1,97 meur/day 463.3 549.1 192.3 57.2 28.7 377.2 No. transactions/day 827.8 877.9 599.3 853.4 638.5 674.2 Trading in European emissions allowances (CO 2 ) Closing prices, emissions allowances EUADEC8 21.3 18.85 14.7 EUADEC9 21.8 19.35 15.2 CERDEC8 15.7 14. Turnover on the exchange Volume (1, EUA/CER) 8,261 3,756 2,46 12,17 4,152 4,228 meur 14.6 79.6 13.3 22.2 29.2 73.2 Number of transactions 41 414 186 824 426 372 Volume (1, EUA)/day 393.4 17.7 12.3 279.5 98.9 16.3 meur/day 6.69 3.62.67 5.12.7 2.91 No. transactions/day 19.5 18.8 9.3 19.2 1.1 14.8 Clearing turnover Volume (1, EUA) 2,552 13,154 5,258 33,76 1,867 117,957 meur 358.5 249.8 42.3 68.3 89.6 2,132.8 Number of transactions 828 849 392 1677 897 7379 Volume (1, EUA)/day 978.7 597.9 262.9 783.9 258.7 469.9 meur/day 17.7 11.35 2.11 14.15 2.13 8.5 No. transactions/day 39.4 38.6 19.6 39. 21.4 29.4 Trading days in the period 21 22 2 43 42 251
About Nord Pool Services from Nord Pool Nord Pool is Europe s largest power exchange in terms of both physical and financial contract volumes. Further, Nord Pool is also the only commodity exchange to provide trade in emissions allowances (EUAs) and carbon credits (CERs). Organisation The Nord Pool group comprises Nord Pool ASA and Nord Pool Spot AS. Nord Pool ASA comprises the wholly owned subsidiaries, Nord Pool Clearing ASA and Nord Pool Consulting AS. The national grid companies Svenska Kraftnät and Statnett holds 5 per cent each in Nord Pool ASA. Nord Pool Spot AS and its subsidiaries Nord Pool Finland Oy and Nord Pool Spot AB are owned by the national grid companies Fingrid, Energinet.dk, Statnett, Svenska Kraftnät and Nord Pool ASA by twenty per cent each. The Nord Pool group has offices in Lysaker (Oslo), Fredericia, Stockholm, Helsinki, Berlin and Amsterdam. Members The Nord Pool group has more than 42 members in total, including exchange members, clearing clients, members and representatives in 2 countries. The customer base for Nord Pool ASA includes 412 members. Nord Pool Spot AS has a customer base of 319 in Elspot and 54 in Elbas. The membership includes energy producers, energyintensive industries, large consumers, distributors, funds, investment companies, banks, brokers, utility companies and financial institutions. The physical market - Nord Pool Spot AS The physical market is the basis for all electricity trading in the Nordic market. The spot price forms the basis for the financial market. Nord Pool Spot organises the market place which comprises the Elspot and Elbas products. Elspot is the common Nordic market for trading physical electricity contracts with next-day supply. Elbas is a physical balance adjustment market for Sweden, Finland and Denmark. Both the Elspot and Elbas market also include the KONTEK area in Germany. The financial market Nord Pool ASA Nord Pool ASA provides a market place where the exchange members can trade derivative contracts in the financial market. Financial electricity contracts are used to guarantee prices and manage risk when trading power. Nord Pool offers contracts of up to six years' duration, with contracts for days, weeks, months, quarters and years. Nord Pool also trades EUAs). Clearing Nord Pool Clearing ASA Clearing consists of Nord Pool Clearing ASA which enters into financial contracts as a contractual counter-party. This means that Nord Pool assumes liability for covering the future clearing of financial contracts in order to reduce the risk of the contracts for buyers and sellers. Nord Pool Clearing provides clearing for financial, standardised electricity contracts traded on and off the exchange. Consulting Nord Pool Consulting AS Nord Pool Consulting AS is a consulting company specialising in services in the fields of consulting, operations and development of international deregulated power markets.
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