During 2008, Nord Pool Spot will introduce Elbas in Norway. As the first intra day trading system in Europe, Elbas offer intra day trading of power between the German market and the whole Nordic region.

The Elbas market in Norway provides continuous power trading 24 hours a day, 7 days a week covering individual hours, up to one hour prior to delivery. The Elbas market in Norway will open the next day's hours for trading at 14:00 CET every day. The traded products are one-hour long power contracts. The Elbas market is open around the clock every day of the year.

Nord Pool Spot AS acts as counterpart in all contracts traded on the Elbas market and all trades are physically settled with Statnett.

Product characteristics

The product characteristics are the same in Norway as in the rest of the Nordic region. For each and every hour of the day one power hour contract is quoted. At 14:00 CET the hour-contracts for the next day are opened for trade in Norway at the same time as Finland, Sweden and Eastern Denmark.

A power hour series can be traded for the current day up to 60 minutes before the delivery hour. The trade for a specific hour contract is closed 60 minutes before its delivery in Norway. The delivery is a preannouncement for the counterpart's electricity balance, either in Finland, Norway, Germany, Sweden or Denmark. The contract series are identified as: PHhhyymmdd (PH = Power Hour, hh = delivery time, yy = year, mm = month and dd = day). The identification of the series begins with PH (Power Hour). The last contract hour for the day is PH24, which means the delivery from 24h to 01h in Finland or 23h to 24h in Sweden, Norway, Germany and Denmark.

Product specification

For more information on how to become a participant on the Elbas market in Norway and trading fees, please see the menu to the right for relevant contact persons.