Centrica to sell at least 30% of power on N2EX

The company has used N2EX, which is owned by Nasdaq and Nordpool, since it was launched in January 2010, but this week started selling at least 30 per cent of power via the platform.

Centrica MD Mark Hanafin said the move “facilitates trading opportunities for all market participants”.

Energy companies are taking increasing steps to improve liquidity as regulator Ofgem consults on a mandatory auction intervention, where, if it can be implemented, firms would be forced to auction a quarter of their generation. The move is not favoured by big energy companies.

At the platform’s launch, Nasdaq vice president Gier Reigstad said the market would move faster than Ofgem.