The Winner of the 2010 Energy Transparency Award is Nord Pool Spot
Jean-Michel Glachant and Jorge Vasconcelos handing the prize to the winner Energy Transparency Award
On November 17, 2010 at the Energy Transparency Award Ceremony the winner of the 2010 edition of the Energy Transparency Award has been announced.
Since the ETA will be assigned for the first time this year, the Selection Committee decided to give special emphasis to past achievements. Nord Pool was the first cross-border electricity market operator in Europe and in the world. It has inspired the creation of cross-border energy markets all over the world and it has been a model for market operators everywhere. The simplicity, efficiency and transparency of Nord Pool has been recognized and emulated for more than 15 years now. Nord Pool Spot runs the largest electricity market in the world: in 2009 it had a turnover of 288 TWh representing a value of EUR 10.8 billion. This success is due to a large extent to the high degree of transparency cultivated by Nord Pool management, shareholders and regulators.
The Selection Committee warmly congratulates Nord Pool Spot for its past achievements and encourages its management, shareholders and stakeholders to keep the innovation and transparency track they have so successfully pursued, for the benefit of energy consumers and energy undertakings in the Nordic countries and in Europe.
Finalist of the 2010 Energy Transparency Award
Following a call for proposals launched in June 2010, several nominations were received concerning a total of 12 entities. These nominations were evaluated according to the 8 criteria laid down in the ETA Rules: effectiveness, efficiency, reproducibility, innovation, simplicity of design and implementation, responsiveness to users’ needs, leverage and contribution to market oversight improvement. The three nominations with the highest average marks were the (in alphabetical order) National Grid; Nord Pool Spot; The Gas Regional Initiative North-West. The Committee considered that all 3 entities have provided outstanding contributions to the transparency of energy markets in Europe and therefore wishes to congratulate them and to encourage them to continue their work in support of more transparent and more efficient energy markets. National Grid, Nord Pool Spot and The Gas Regional Initiative North-West all have been and are examples of first-rate innovation and excellent cross-border cooperation. They have inspired industry, regulators and policy-makers throughout Europe and beyond EU borders, hence contributing to the better functioning of the Internal Energy Market and making the European model better known all over the world.
From the 3 short-listed entities, one has been particularly influential since the first Internal Energy Market Directive was approved, in 1996. Therefore, The Selection Committe decided to assign the 2010 European Transparency Award to Nord Pool Spot.
The Winner of the Energy Transparency Award has been announced on the 17th November 2010 in Brussels, during the Award Ceremony which took place at the Radisson Blu Royal Hotel, where Philip Lowe, Director-General of the European Commission DG Energy, delivered the
keynote speech.
Download the Programme of the Ceremony, the Press Kit, Jean-Michel Glachant's speech and the Decision of the Selection Committee.
Download also the European Energy Markets Transparency Report 2010 published by the Florence School of Regulation.
See the Selection Committee See the
Press Review
Philip Lowe during his speech at the ceremony
More Pictures
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The Energy Transparency Award is an annual competition that aims to highlight the importance of transparency in European energy markets.
Objective of the Award
Transparency is an essential condition for the efficient functioning of energy markets. Not only transparent market rules, but also transparent access criteria to infrastructure, transparent operation of energy systems and transparent regulatory procedures are indispensable to ensure a level playing field and efficient market outcomes. Given the increasing importance of energy markets within Europe and the general move towards larger, regional markets and exchanges, promoting transparency in physical and financial energy markets is an ideal way of stimulating the European economy and achieving an open and competitive European market. Transparency enhances information of market participants and permits them to take the more appropriate business decisions. Transparency gives more equal access to the market and more equal chance to benefit from market opportunities; it facilitates appropriate market entry. Hence transparency favours the efficiency of market operation and improves the confidence that economic agents may have with market outcomes. The Energy Transparency Award, to be assigned every year, will distinguish a company or institution for their particular contribution to the transparency of energy markets in Europe. The acronym of Energy Transparency Award, (ETA), is the seventh letter of the Greek alphabet, often used in technical and scientific formula to represent efficiency. Promoting the economic and technical efficiency of European energy markets through improved transparency is indeed the main purpose of the Energy Transparency Award.
Selection procedure
The nominations have been evaluated by the Selection Committee which is formed by a president and at least three members of widely recognised independence and international prestige, appointed by the president of the Selection Committee. The first president of the Selection Committee is Jorge Vasconcelos, founding chairman of the Council of European Energy Regulators.
