Presenting the partners: Nord Pool Consulting
2020-10-27 12:34:17 +0000
Nord Pool Consulting (NPC) offers services connected to market design, rulebook development and market regulation, power market systems and capacity building, and provide seminars based on its unrivalled knowledge of international power market development.
NPC’s services are inherently linked to the experience the company has acquired
through close collaboration with its mother company Nord Pool’s 25 years of
successful operation of international power markets, serving as a blueprint
model for the European wholesale electricity markets. NPC has detailed insight
in all EU market regulations, not only from a theoretical, but also from an
implementation and operational perspective, explains Robert Gehrcke, Senior
Consultant at Nord Pool Consulting.
In addition to European experience, NPC has been involved in international projects around the world allowing the company to gain experience from other parts of the international power market development stretching from India to Southern Africa.
Role in FLEXGRID
In the EU Horizon 2020 FLEXGRID project, Nord Pool Consulting is in charge of Work Package 2, which is related to developing the project’s use cases and services as well as architecture design.
NPC’s goal as Work Package 2 leader is to exploit FLEXGRID’s novel market
design approach to further extend its consulting services portfolio to
flexibility market design, development and operation in Europe and beyond,
taking into consideration the regulatory framework of each country/region and
the diverse needs and opportunities of energy market stakeholders per
geographical region, says Gehrcke.
NPC has rich experience in several relevant areas within the FLEXGRID context, including feasibility studies for electricity derivatives markets, electricity market design, implementation support and set-up of wholesale electricity markets, as well as design and implementation of power exchanges.
Pre-study on research models
As part of Work Package 2, NPC will conduct a pre-study on the existing
research models and technological background from FLEXGRID partners to identify
the way and the degree to which the existing research algorithms, such as
optimal power flow, pricing, energy service provider services planning and
operation, can facilitate the build-up of the substrates of the FLEXGRID
platform, informs Gehrcke.
The output of Work Package 2 directly feeds Work Package 3, 4 and 5 (to navigate FLEXGRID platform design process) and indirectly interacts through them with Work Package 6 (software development and integration) and 7 (pilots, experiments, validation, empirical platform evolution).
In addition, NPC plays a key role in providing data from Nord Pool and balancing markets (i.e., day-ahead, intraday, balance/reserve market prices, etc.) and innovative business models for ancillary services’ provisioning based on the current practice and experience in this area.
By the end of the Project, NPC aims to be able to identify new opportunities, especially targeted on consulting services related to business cases for flexibility trading.
After the project’s lifetime, the major exploitation targets of NPC will be to
use FLEXGRID’s achievements to identify potential market and product
opportunities for its mother company Nord Pool and to educate interested
stakeholders who would like to operate a FLEXGRID marketplace in their
geographical region, says Gehrcke.