Trading
Electricity is hard to store, so supply and demand must match at every moment. Power markets set the prices that make this happen, and we trade in them across the Nordics and Europe.
01Price formation
European power is traded in 15-minute periods, and each has its own price in each bidding zone. The shape of a day follows demand, weather and the grid: low at night, a morning ramp, a midday dip when solar output peaks, and an evening peak as the sun sets.
The more wind and solar on the system, the steeper and less predictable that shape becomes, and the more value there is in forecasting it well.
Day-ahead price
€/MWh · 15 min
02Market structure
Trading starts the day before delivery and continues until shortly before it. Each step lets market participants correct their positions as forecasts improve.
D-1 · 12:00 CET
Bids for every period of the next day go into the single European day-ahead auction (SDAC).
D-1 · ~12:45
The auction sets one price per bidding zone and period, coupled across Europe.
D-1 · 15:00
Intraday auctions and continuous cross-border trading (SIDC) let positions follow updated forecasts.
D · H-1
Continuous cross-border trading closes an hour before delivery. Some markets trade locally closer to real time.
D · Delivery
Grid operators balance the system in real time. Imbalances are settled per 15‑minute period.
03Why it matters
Trading moves electricity from where it’s plentiful to where it’s scarce. Every trade adds information to the price, and clear prices tell producers when to generate and consumers when to use power.
European markets are coupled: the day-ahead auction and cross-border intraday trading use the capacity on the lines between zones, so power flows towards the higher price.
Market coupling
€/MWh
Before
Windy zone A has surplus power; zone B is short.
After
Power flows from A to B until the prices meet or the line is full.
04Renewables
Wind and solar output changes with the weather, and forecasts are never perfect. Intraday trading lets the market adjust as forecasts are updated, so less backup generation is needed to keep the grid balanced.
In the Nordics that happens across twelve bidding zones, from hydro-rich Norway and Sweden to wind-heavy Denmark.
Nordic bidding zones
12 zones
05Our approach
Our trading is driven by data. We forecast prices, renewable production and consumption, and act on those forecasts with software we build in-house.
We forecast prices, renewable production and consumption, and update those forecasts as new weather and market data arrives.
Our traders act on the forecasts in the day-ahead auction and intraday, adjusting positions as the picture changes towards delivery.
Models, data pipelines and trading tools are built in-house, so traders and developers can change them quickly when markets change.
We hire traders, quantitative analysts and developers who want their ideas to reach live trading quickly.