The Danish electricity market is a part of the Nordic market model. In the wholesale market most of the electricity trading takes place on the common Nordic power exchange, Nord Pool, which is owned by the transmission system operators in the Nordic countries. Trading in the Nord Pool spot market follows a fixed time schedule that is repeated every day. The main features are as follows: •Before 10:00, the Nordic TSOs announces how much capacity is available for the spot market for the next day. •Before 12:00, the electricity suppliers and producers send purchase and sales bids for the next day to Nord Pool. •Before 13:00, Nord Pool matches all purchase and sales bids, giving due consideration to the restrictions in the power system, and sends BRP notifications to the individual electricity suppliers and producers together with information about traded amounts and prices for the next 24 hours.