Cropex, Nord Pool Spot develop power market

Croatian Power Exchange Ltd. (Cropex) and Nord Pool Spot, a power market, announced the signing of a cooperation agreement to create the first competitive Croatian day-ahead power exchange, with the possibility of extension to include an intraday market at a later stage.

Cropex is committed to the development of a transparent and efficient Croatian power market, enabling the country to become a part of the pan-European multi-regional coupling of power markets (MRC), Nord Pool Spot said. In order to ensure the rapid fulfilment of this goal and, at the same time, to deliver valuable services to its customers, Cropex has selected Nord Pool Spot as its partner to operate the Croatian power market as an exchange serviced by price coupling of regions (PCR), Nord Pool Spot’s press release said.

The plan is for the Croatian day-ahead market to become operational by the end of the fourth quarter. Silvio Brkić, CEO of Cropex, said: „We are happy and proud to have Nord Pool Spot as Cropex’s strategic partner. This partnership is the best guarantee for the successful creation of a liquid Croatian day-ahead power market, integrated into the MRCs of European power markets.”

A cooperation agreement was signed with Nord Pool Spot in April, aimed at setting up and running Bulgaria’s first day-ahead power exchange. The platform is planned to start operations by the end of the year.