NWE Price Coupling to Launch 4 February 2014
The project partners of the North-Western Europe (NWE) day-ahead price coupling project are pleased to confirm the project’s go live on 4 February 2014, for delivery on 5 February 2014. NWE will be the first implementation of the Price Coupling of Regions (PCR) solution, developed by European Power Exchanges, and will run in a common synchronised mode with South-Western Europe (SWE). This launch will be a significant step towards an integrated European power market.
This confirmation follows the successful completion of a complex programme of joint technical and operational testing by the PCR, NWE and SWE project partners. As the project covers 75% of the European power market, reliability and stability are of the highest importance.
From Go-live, NWE and SWE operations will be synchronised with both using PCR, but for the time being the daily explicit auction at the France-Spain border will be maintained as it is. It is the intention to move to implicit allocation on this border in the near future.
Price coupling allows cross-border transmission capacity to be used directly by Power Exchanges’ day-ahead markets – a mechanism known as implicit allocation. The PCR solution has been developed by European Power Exchanges to provide a single algorithm and harmonised operational procedures for efficient price calculation and use of European cross-border transmission capacity.