On 4 February 2014, North Western European (NWE) Price Coupling was launched. NWE was initiated by the Transmission System Operators and Power Exchanges of the countries in North-Western Europe to establish price coupling of the day-ahead wholesale electricity markets in this region, increasing the efficient allocation of interconnection capacities of the involved countries and optimising the overall social welfare. A single algorithm, which simultaneously calculates the market prices, net positions and flows on interconnectors between market areas is used, based on implicit auctions and facilitated through Price Coupling of Regions.
Price Coupling of Regions (PCR) is the initiative of seven European Power Exchanges, to develop a single price coupling solution to be used to calculate electricity prices across Europe, and allocate cross-border capacity on a day-ahead basis to achieve the overall EU target of a harmonized European electricity market. The integrated European electricity market is expected to increase liquidity, efficiency and social welfare.
A description of the PCR Market Coupling Algorithm “Euphemia” can be found via the link.
NWE Day-Ahead Information Session held on 15 October 2013 in Brussels
On 15 October 2013, Elia and Belpex held a joint information session for market participants about the changes made to the Belgian wholesale market as part of the NWE project. The combined presentation can be found via the link below.
- Info Session NWE Day-Ahead: Operational & Contractual Changes for Belgian Wholesale Market Organization
Presentations of NWE Stakeholder Seminar held on 14 June 2013 in London
- High Level Architecture
• PCR Algorithm Recap
• Study on the implementation of loss factors
• Project Planning
• Procedures and Timings
• External Communication
Presentation of NWE Price Coupling Stakeholder Forum 26 September 2012
A North-Western Europe Price Coupling stakeholder forum was organised in Brussels on 26 September 2012.
The presentations of the event can be found below:
- Introduction speech J.F. Conil-Lacoste
- Presentation NWE Architecture
- Presentation PC
- Presentation Algorithm
- Presentation Planning
NWE: Questions & Answers
A Q&A document regarding the NWE Price Coupling Initiative can be found below: