As soon as the noon deadline for participants to submit bids has passed, all purchase and sell orders are aggregated into two curves for each delivery hour; an aggregate demand curve and an aggregate supply curve. The System price for each hour is determined by the intersection of the aggregate supply and demand curves which are representing all bids and offers for the entire Nordic region.

The System Price is also denoted the unconstraind market clearing price since the trading capacities between the bidding areas have not been taken into account in finding this price.

The majority of the standard financial contracts traded in the Nordic region refers to the System price. There are also standard financial contracts with reference to specific area prices.