Weekly Auctions Continue

BritNed will continue to run Weekly Auctions following a successful 9-week trial.

Jon Cole, Customer and Markets Manager at BritNed, said: “BritNed strives to provide our participants with the greatest choice, control, and convenience in their interconnector trading activity. This is made possible via our next-generation allocation and nomination platform, Empire, alongside our commitment to innovation.”

BritNed is the first UK interconnector to introduce a Weekly Auction.

Jon continues: “So, when our annual customer survey asked which new products our participants would like to participate in and a Weekly Auction was the most popular choice, we utilised Empire’s flexibility to launch a trial.

“Weekly Auctions have proven beneficial to participants by offering additional capacity between our Monthly and Day Ahead auctions, providing participants more control and choice in how to respond to changing market conditions.

“Following the completion of the trial earlier this summer, we are delighted that participants provided such positive feedback, including that the Weekly Auction is ‘very easy’ to use, and that some participants have used Weekly Auctions to help better manage risk and exposure in their portfolio.”

He added: “We’re pleased to be the first UK interconnector to introduce a Weekly Auction. We will continue to collate market feedback on Weekly Auctions, as we do with all of our auction products, to understand how we can continue to develop and improve our service offering.”

The BritNed Weekly Auction opens at 10.00 CET and closes at 14:00 CET on the Wednesday prior to the delivery week. The delivery period runs from Monday to Sunday. Existing BritNed customers can participate with no additional registration required.

Contact the team on customer.enquiries@britned.com to learn more about Weekly Auctions auctions.