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Nord Pool plans to launch intraday power trading in Ireland from 2018

Reuters - UK Focus

LONDON, March 14 (Reuters) - Nord Pool plans to launch a day-ahead power auction and continuous intraday power trading in Ireland (Other OTC: IRLD - news) from 2018, the Nordic electricity market operator said on Tuesday.

Short-term power trading has increased in recent years as coal and gas plant operators can no longer plan their output years ahead as they do not know how many hours they will operate in a market they now have to share with renewables.

Nord Pool said it expects to launch its new market when the Irish Single Electricity Market goes live in 2018.

"This move into Ireland is a natural progression for Nord Pool, as we provide similar services in Great Britain," Richard Sarti, Nord Pool's director for UK and Ireland, said in a statement.

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"As a result, we will be able to offer greater value to our members and those participants who wish to transact in both the Irish and the GB markets, as they will benefit from using a single platform to trade intraday and a single platform to trade day-ahead," he added.

Experts are concerned that Britain's vote to leave the European Union could jeopardise plans to join the Irish and Northern Irish electricity markets, which is a multi-year project to create a unified Irish electricity market in line with EU legislation. (Reporting by Nina Chestney, editing by Louise Heavens)