APX power exchange

APX power exchange operated the explicit auction system used to trade both transmission capacity and electricity on the NorNed HVDC interconnector between the Netherlands and Norway. The project owner TenneT stated that, while the auctions were initially jointly organised by the interconnector’s joint owners TenneT and Statnett, the auction process was later run by APX as the power exchange providing the market platform and operational arrangements for these explicit auctions. This role related to the operational phase of the NorNed cable, supporting the interconnector’s purpose of integrating the Dutch and Norwegian power markets and enabling cross-border trading. By running the auction mechanism, APX facilitated allocation and trading of NorNed capacity and associated electricity flows in a transparent market-based process, aligning with the stated free-market operation objective for the link. The scope described was limited to the market/auction operation for NorNed rather than physical cable, converter, or grid asset delivery. No contract value, award date, or quantitative equipment scope was stated for APX’s role in the source.