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Overview European markets

Overview European markets. APEX Conference, SEOUL 2006 Torger Lien President & CEO Nord Pool ASA. EU Sector Inquiry 2006 ”The findings Electricity Markets”. Market concentration Vertical foreclosure Market integration Transparency Price formation Way forward.

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Overview European markets

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  1. Overview European markets APEX Conference, SEOUL 2006 Torger Lien President & CEO Nord Pool ASA

  2. EU Sector Inquiry 2006 ”The findings Electricity Markets” • Market concentration • Vertical foreclosure • Market integration • Transparency • Price formation • Way forward

  3. European electricity price development

  4. CO2 considerable market impact

  5. Electricity price developmentNordic

  6. Power generators making record profits, against a struggling base industry • Growing demand • Tight power balance • Soaring fossil fuel prices • CO2 impact on electricity prices • European base industry struggling with high electricity prices and CO2 cost

  7. Growing competition between financial exchanges • Restructuring of the equities and commodity exchange industry • The commodity derivative asset class to be taken up by the ”majors” • Growing competition on CO2, coal, oil and gas • Focus on transparency

  8. Market integration • From national to regional to ”European” markets • Increasing grid and cross boarder capacity • Converging prices • Political drive toward integrated markets • Market coupling gaining support • Exchanges forced to cooperate, leading to ”one” super exchange?

  9. Nordic market • New generation underway, balancing consumption growth. Not improving supply and demand balance • 2006 another dry year, winter 06/07 uncertain • Substantial price increase, challenge for power intensive industry • Nordic and European consumer prices converge

  10. Spot market volume Est.

  11. Highest market share among voluntary exchanges!The Nordic spot market

  12. For more information: www.nordpool.com

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