Definition
NordReg (Nordic Energy Regulators) is the cooperation body for energy regulators in Denmark, Finland, Iceland, Norway, and Sweden. NordReg coordinates regulatory practice, develops common principles for grid regulation, and acts as a consultative body for European energy legislation. In a Nordic electricity market context, NordReg is important because the Nordic market is closely integrated - common rules and coordinated supervision are necessary for the Nord PoolNordic electricity exchange where power is traded in the wholesale market - the basis for electricity prices in Norway and the Nordic region. market to function effectively. NordReg cooperates closely with ACEREU's energy regulator - coordinates national regulators and sets common rules for the power market. (the EU's energy regulator forum) to align Nordic rules with European energy legislation. For technology suppliers in the energy sector, NordReg is relevant because new requirements from NordReg can change requirements for IT systems, data formats, and market designRules and framework that govern the functioning of the electricity market - covers pricing, settlement and competition..