Staying abreast of the rapid developments in our ever-evolving world, especially within the energy sector, can prove to be quite challenging. Nevertheless, we have dedicated ourselves to distilling this information and highlighting significant events in the energy industry during the third quarter of 2023 to make it more accessible to our network.

Update 2023 – Q3

• Successful Go-live: ETPA, now a participant in the European Single Intraday Coupling (SIDC) within the Dutch market area, has reached a significant milestone, further bolstering the efficiency of the Single European Electricity Market.

• Croatia's Nominated Electricity Market Operator (NEMO), known as CROPEX, is set to enhance the time resolution on its Intraday market to support the recently introduced 15-minute Products.

• Over the course of the last year, EPEX SPOT has conducted monthly auctions for Guarantees of Origins (GOs) on its GOs marketplace, resulting in a substantial total traded volume of 3.2 terawatt-hours (TWh).

• HUPX is introducing a novel clearing service on its spot market through the Direct Clearing Participant model (DCP).

• The European Council has adopted a new Energy Efficiency Directive aimed at achieving an 11.7% reduction in final energy consumption by 2030.

• The global renewable power capacity has experienced an unparalleled growth, surging by 107 gigawatts (GW) to reach a total of 440 GW in 2023. Solar photovoltaic (PV) capacity leads this expansion, accounting for two-thirds of the global increase.

Outlook 2023 – Q4

In a forward-looking move, the implementation of flow-based capacity calculation in the Nordic Region will be postponed, with a new go-live date scheduled for November 2023.

For further information please refer to the factsheet below.