Elma Power Exchange, Iceland’s new spot electricity exchange, has joined Europex as a full member as of today.
Based in Reykjavik, Iceland, Elma currently prepares for the go-live of a day-ahead electricity market in 2025 with a subsequent launch of an intraday electricity market at a later stage. In addition, Elma recently introduced an auction system for Power Purchase Agreements (PPAs) and considers extending into other related activities. Elma was established in October 2022 and is fully owned by Landsnet, the Icelandic Transmission System Operator (TSO).
Christian Baer, Secretary General of Europex, commented: "We are delighted to welcome Elma as Europex member. Iceland has a unique energy system with a very high renewable share and is formally part of the European Internal Energy Market – while not yet physically connected to the continent. We look forward to working with Elma and to further extending our membership into the European Economic Area.”
With the addition of Elma, Europex now counts 35 members.
