Time2Talk: The Energy Trading Podcast

In today's episode, join Benjamin Tranier, Group CEO at Energy One, and Eszter Pontenagel and Paul Pontenagel from Time2Market, as they discuss:👉 New markets, flexibility services, and the GMSL acquisition👉 The structural nature of volatility in energy markets, and what that means for trading infrastructure👉 Power vs. gas: entry barriers, convergence, and the EEX M7 gas API👉 How prop traders, financial institutions, and hyperscalers are affecting energy markets👉 Human-in-the-loop in energy trading👉 Even Anthropic is hiring energy traders Legal disclaimer: This podcast is intended for informational purposes only and should not be considered business or legal advice. Time2Market does not guarantee the completeness, accuracy, and actuality of the information provided. The energy industry is extremely dynamic and conditions and requirements change frequently.  As a result, information discussed on this page is subject to change without notice. Time2Market's website: www.time2market.net Time2Market's LinkedIn: www.linkedin.com/company/time2market-market-management-servicesSubscribe to Time2Market's newsletter for early access and exclusive content: https://sy4ic.share.hsforms.com/2GEq1A1elRH2eMpxHuPS4Rg

In today's episode, join Peter Reitz, outgoing CEO of EEX, and Paul Pontenagel from Time2Market, as they discuss:👉 Why flexibility is the new currency in energy👉 How EEX grew from 120 to 1,400 employees👉 Should AI and algo trading face more regulation👉 Why Japan became EEX's fastest-growing power market👉 How EEX turned around Nordic market liquidity👉 What advice Peter Reitz has for his successorDo you want early access to watch all Time2Market episodes one week before they are published? Subscribe to Time2Market's monthly newsletter here 👉 https://sy4ic.share.hsforms.com/2GEq1A1elRH2eMpxHuPS4Rg Legal disclaimer: This podcast is intended for informational purposes only and should not be considered business or legal advice. Time2Market does not guarantee the completeness, accuracy, and actuality of the information provided. The energy industry is extremely dynamic and conditions and requirements change frequently.  As a result, information discussed on this page is subject to change without notice. Time2Market's website: www.time2market.net Time2Market's LinkedIn: www.linkedin.com/company/time2market-market-management-servicesSubscribe to Time2Market's newsletter for early access and exclusive content: https://sy4ic.share.hsforms.com/2GEq1A1elRH2eMpxHuPS4Rg

In today's episode, Eszter Pontenagel and Paul Pontenagel take a break from behind the usual interview format to tell the story of Time2Market itself.We walk through the frustration that sparked the idea of Time2Market, the leap of faith that got it off the ground, and how strangers trusted us before there was any track record to justify it. Along the way they cover:👉 How Time2Market started with one laptop and one contract👉 Why trust from strangers surprised the founders most👉 The shift from administrative support to strategic value👉 How build vs buy has changed market access👉 How to use AI in your market access projects👉 The hidden complexity behind every new market entryIf you would like to be the next guest on Time2Talk, please do not hesitate to contact Time2Market. If you have an interesting guest in mind, leave their name in the comments, and we will get in touch. Do you want early access to watch all Time2Market episodes one week before they are published? Subscribe to Time2Market’s monthly newsletter here 👉 https://sy4ic.share.hsforms.com/2GEq1A1elRH2eMpxHuPS4Rg  Legal disclaimer: This podcast is intended for informational purposes only and should not be considered business or legal advice. Time2Market does not guarantee the completeness, accuracy, and actuality of the information provided. The energy industry is extremely dynamic and conditions and requirements change frequently.  As a result, information discussed on this page is subject to change without notice. Time2Market's website: www.time2market.net Time2Market's LinkedIn: www.linkedin.com/company/time2market-market-management-servicesSubscribe to Time2Market's newsletter for early access and exclusive content: https://sy4ic.share.hsforms.com/2GEq1A1elRH2eMpxHuPS4Rg

In today's episode, join Tobias Federico, Chief Analyst at Montel, and Paul Pontenagel from Time2Market, as they discuss:  👉 How German trading volume reached 10x actual electricity consumption👉 The three pricing models of the energy world👉 Why Germany's grid can't keep up with its own renewable buildout👉 Should Germany be split into price zones👉 How battery storage will affect negative prices in the next five years👉 How AI data centers are complicating Europe's renewables targetsIf you would like to be the next guest on Time2Talk, please do not hesitate to contact Time2Market. If you have an interesting guest in mind, leave their name in the comments, and we will get in touch.   𝐓𝐚𝐛𝐥𝐞 𝐨𝐟 𝐜𝐨𝐧𝐭𝐞𝐧𝐭𝐬: 00:00 – In today's episode...01:21 – Welcome Tobias01:55 – From German Liberalisation to Founding Energy Brainpool03:26 – Energy Brainpool Joins Montel04:51 – Why Germany Dominates European Power Markets08:01 – Germany's Four TSOs and 900 DSOs Explained11:20 – Cross-Border Flows and the Move to Market Coupling16:34 – Germany's Fuel Mix: From Lignite and Nuclear to 54% Renewables20:23 – Copper Plate, Zonal Pricing, and Nodal Pricing25:04 – Why Splitting Germany Into Price Zones Won't Fix Redispatch27:38 – Record Redispatch Costs29:40 – Long-Term Scenarios to 206036:22 – The Next 5–10 Years: Batteries, Grid Investment, and Price Volatility39:09 – AI Data Centers and the Demand Challenge for Europe's Renewables Targets40:51 – Geopolitics, Affordability vs. Sustainability, and a Possible Climate Target Delay42:39 – Closing & Why Nobody Leaves the Energy Industry Legal disclaimer: This podcast is intended for informational purposes only and should not be considered business or legal advice. Time2Market does not guarantee the completeness, accuracy, and actuality of the information provided. The energy industry is extremely dynamic and conditions and requirements change frequently.  As a result, information discussed on this page is subject to change without notice. Time2Market's website: www.time2market.net Time2Market's LinkedIn: www.linkedin.com/company/time2market-market-management-servicesSubscribe to Time2Market's newsletter for early access and exclusive content: https://sy4ic.share.hsforms.com/2GEq1A1elRH2eMpxHuPS4Rg

In today's episode, join Tom Darell, CEO of Nord Pool, and Paul Pontenagel from Time2Market, as they discuss:  👉 Why European power markets became harder to understand👉 How Nord Pool delivered five major market changes in 20 months👉 What flow-based market coupling optimizes and what it costs in transparency👉 Why algo trading didn't break intraday markets👉 Nord Pool just migrated open interest away from NasdaqIf you would like to be the next guest on Time2Talk, please do not hesitate to contact Time2Market. If you have an interesting guest in mind, leave their name in the comments, and we will get in touch. Do you want early access to watch all Time2Market episodes one week before they are published? Subscribe to Time2Market’s monthly newsletter here 👉 https://sy4ic.share.hsforms.com/2GEq1A1elRH2eMpxHuPS4Rg  𝐓𝐚𝐛𝐥𝐞 𝐨𝐟 𝐜𝐨𝐧𝐭𝐞𝐧𝐭𝐬: 00:00 – In today's episode...01:08 – Welcome & Introduction: Recording Live in Aarhus01:42 – Tom's Background: From Telecom & Dotcom to Energy03:17 – Energy Feels Like Telecom Did in 200004:44 – What Nord Pool Does: Exchange, Data, Services & Technology07:09 – Running a Multi-Business Exchange: Revenue Mix & Strategic Priorities08:25 – TSO Market Surveillance: What It Is and Why It's Growing09:18 – How the Role of Power Exchanges Has Evolved10:00 – Pan-European Market Coupling: The Biggest Shift in Market History10:43 – 20 Months of Major Deliveries: Flow-Based, 15-Min Resolution & More12:20 – Nord Pool as a Technology & Platform Company13:15 – Why Nord Pool In-Sourced All Core Technology13:40 – Interconnectors, the North Sea Link & the Case for Integration14:55 – Assetless Traders & Speculators: Oil in the Engine15:50 – The Euronext Partnership: Why Nord Pool Needed a Financial Partner18:25 – The Nasdaq Open Interest Migration: What Happened & What's Next20:11 – Geographical Expansion: Continental Europe & Beyond20:40 – Internationalization: How Nord Pool Operates Across 21 Countries21:10 – 1 in 3 German Intraday Trades Goes Through Nord Pool22:27 – How to Scale Across 21 Countries Without a Huge Organisation23:29 – Balancing Central vs Local: Sales, Regulation & Technology25:27 – Market Complexity, Regulation & the Challenge for Smaller Participants26:00 – Flow-Based Market Coupling: More Optimal, Less Transparent27:26 – Where Is the European Market Heading? 28:10 – Are Policy Makers Keeping Up With Market Evolution?29:20 – The Political Problem With Marginal Pricing31:20 – Tom as Europex Chairman: Bridging Industry and Policy32:50 – Is the European Model Exportable? Europe vs the US Approach34:45 – The Rise of Algo Trading & Why Intraday Volumes Keep Growing37:10 – Why Algo Trading Made the Intraday Market Possible38:12 – Do Market Participants Understand How Prices Are Formed?38:53 – Flow-Based and the Loss of Price Intuition39:40 – If You Could Change One Thing in European Market Design40:17 – CACM 2.0: The Governance Debate & Nord Pool's Position41:32 – Why Decentralized Price Coupling Must Be Protected42:29 – Nord Pool's Strategic Priorities for the Years Ahead44:27 – Flexibility Markets, Data Growth & Potential Acquisitions45:58 – What Tom Is Most Proud Of47:34 – Advice for New Market Participants48:55 – Closing & Outro Legal disclaimer: This podcast is intended for informational purposes only and should not be considered business or legal advice. Time2Market does not guarantee the completeness, accuracy, and actuality of the information provided. The energy industry is extremely dynamic and conditions and requirements change frequently.  As a result, information discussed on this page is subject to change without notice. Time2Market's website: www.time2market.net Time2Market's LinkedIn: www.linkedin.com/company/time2market-market-management-servicesSubscribe to Time2Market's newsletter for early access and exclusive content: https://sy4ic.share.hsforms.com/2GEq1A1elRH2eMpxHuPS4Rg

In today's episode, join Priyanka Shinde, Nordic Market Expert at Montel, and Paul Pontenagel from Time2Market, as they discuss:  👉 PICASSO and cross-border integration👉 Renewables, batteries, and new asset types in ancillary services👉 Why recent market changes led to extreme price spikes and volatility👉 How balancing, intraday, and reserve markets are becoming increasingly interconnected👉 The balance between AI-driven trading and fundamental market understanding If you would like to be the next guest on Time2Talk, please do not hesitate to contact Time2Market. If you have an interesting guest in mind, leave their name in the comments, and we will get in touch. Do you want early access to watch all Time2Market episodes one week before they are published? Subscribe to Time2Market’s monthly newsletter here 👉 https://sy4ic.share.hsforms.com/2GEq1A1elRH2eMpxHuPS4Rg Legal disclaimer: This podcast is intended for informational purposes only and should not be considered business or legal advice. Time2Market does not guarantee the completeness, accuracy, and actuality of the information provided. The energy industry is extremely dynamic and conditions and requirements change frequently.  As a result, information discussed on this page is subject to change without notice. Time2Market's website: www.time2market.net Time2Market's LinkedIn: www.linkedin.com/company/time2market-market-management-servicesSubscribe to Time2Market's newsletter for early access and exclusive content: https://sy4ic.share.hsforms.com/2GEq1A1elRH2eMpxHuPS4Rg

In today's episode, join Jean-Paul Harreman, Director of Montel EnAppSys and Paul Pontenagel from Time2Market, as they discuss:  👉 What flexibility really means in short-term European power markets👉 Why renewable curtailment is increasing across Europe👉 How negative prices are reshaping market behavior and incentives👉 The fundamentals behind battery storage business cases👉 The role of non-physical traders in liquidity and price formation👉 Why regulation struggles to keep up with market evolution👉 Key risks shaping the future of European energy markets If you would like to be the next guest on Time2Talk, please do not hesitate to contact Time2Market. If you have an interesting guest in mind, leave their name in the comments, and we will get in touch. Do you want early access to watch all Time2Market episodes one week before they are published? Subscribe to Time2Market’s monthly newsletter here 👉 https://sy4ic.share.hsforms.com/2GEq1A1elRH2eMpxHuPS4Rg  𝐓𝐚𝐛𝐥𝐞 𝐨𝐟 𝐜𝐨𝐧𝐭𝐞𝐧𝐭𝐬: 00:00 – In today’s episode...01:43 – What “Short-Term Power Markets” Actually Mean02:48 – Recent Market Changes in Europe (Flexibility, PICASSO, Renewables)04:36 – What Is Flexibility in Energy Markets?07:18 – Is Renewable Curtailment a Sign of Market Efficiency?09:05 – Negative Prices & Their Role in Market Signals10:42 – Are Batteries a Viable Investment Today?12:43 – Inside a Large-Scale Battery Business Case16:37 – Market Saturation Risk: Too Many Batteries?19:32 – When Will Flex Markets Stabilize?21:06 – Will Negative Prices Disappear Over Time?23:26 – Do Batteries Trade Beyond Short-Term Markets?25:20 – Comparing EU Markets (Germany, France, Netherlands)30:47 – Spain Case Study: Blackout & System Stability33:01 – Market Shocks: TSOs vs Market Participants34:14 – Why Flexibility Challenges May Get Worse36:19 – Interconnectors & Cross-Border Shock Risks40:00 – Structural Flaws in Capacity Mechanisms42:15 – Policy Lag: Markets vs Regulation44:53 – Role of Non-Physical Traders in Liquidity48:00 – Do Traders Reduce or Increase Volatility?52:00 – Complexity of Balancing Markets & Price Formation56:00 – Harmonization Challenges Across Europe58:30 – Future Risks: Geopolitics & Market Dependencies01:00:10 – Demand Growth, Data Centers & Renewable Expansion01:01:27 – Long-Term Outlook & Market Challenges Ahead01:01:51 – Closing Thoughts Legal disclaimer: This podcast is intended for informational purposes only and should not be considered business or legal advice. Time2Market does not guarantee the completeness, accuracy, and actuality of the information provided. The energy industry is extremely dynamic and conditions and requirements change frequently.  As a result, information discussed on this page is subject to change without notice. Time2Market's website: www.time2market.net Time2Market's LinkedIn: www.linkedin.com/company/time2market-market-management-servicesSubscribe to Time2Market's newsletter for early access and exclusive content: https://sy4ic.share.hsforms.com/2GEq1A1elRH2eMpxHuPS4Rg

We are very excited to finally share the first episode of Time2Talk SEASON 3!In today's episode, join Jathan Malik, Director of Energy Markets at the Nodal Exchange and Paul Pontenagel from Time2Market, as they discuss:👉 What traders misunderstand about U.S. power market structure👉 The role of futures and derivatives in modern energy trading👉 Why risk management matters more as power markets grow more complex👉 The relationship between physical power flows and financial markets👉 What traders should know before entering U.S. electricity markets👉 How market design influences trading strategy If you would like to be the next guest on Time2Talk, please do not hesitate to contact Time2Market. If you have an interesting guest in mind, leave their name in the comments, and we will get in touch. Do you want early access to watch all Time2Market episodes one week before they are published? Subscribe to Time2Market’s monthly newsletter here 👉 https://sy4ic.share.hsforms.com/2GEq1A1elRH2eMpxHuPS4Rg  𝐓𝐚𝐛𝐥𝐞 𝐨𝐟 𝐜𝐨𝐧𝐭𝐞𝐧𝐭𝐬: 00:00 – In today’s episode...01:20 – Welcome Jathan Malik from Nodal Exchange03:24 – Gas price volatility and its impact on U.S. power markets04:00 – From London to Boston: Jathan’s path into the U.S. energy industry05:00 – What Nodal Exchange is and how it fits within the EEX Group06:21 – Why nodal hedging matters: managing price risk at specific grid locations07:00 – Launching short-term power futures: Nodal’s new daily contracts08:07 – European vs U.S. power markets: nodal pricing vs zonal pricing09:06 – Why traders use futures exchanges instead of only ISO markets10:09 – Financial vs physical settlement in power futures markets11:27 – Who trades on Nodal? Utilities, hedge funds, prop shops, and new entrants12:42 – Why electricity trading is attracting new participants13:38 – Data centers, AI, and the growing demand for power trading and hedging15:22 – Exchange onboarding in the U.S.: clearing members and market access16:58 – Expanding granularity: Nodal’s daily contracts and future hourly markets18:35 – Virtual trading, nodal spreads, and hedging ISO exposure20:02 – Managing thousands of tradable contracts on a trading screen22:07 – Understanding real-time futures and day-ahead vs real-time spreads23:49 – Competing in U.S. power and gas markets25:30 – Margin advantages and portfolio risk management at Nodal26:42 – European traders entering U.S. markets and gas trading opportunities28:16 – How new participants can prepare to trade on Nodal29:44 – Final thoughts on entering U.S. power markets and closing remarksLegal disclaimer: This podcast is intended for informational purposes only and should not be considered business or legal advice. Time2Market does not guarantee the completeness, accuracy, and actuality of the information provided. The energy industry is extremely dynamic and conditions and requirements change frequently.  As a result, information discussed on this page is subject to change without notice. Time2Market's website: www.time2market.net Time2Market's LinkedIn: www.linkedin.com/company/time2market-market-management-servicesSubscribe to Time2Market's newsletter for early access and exclusive content: https://sy4ic.share.hsforms.com/2GEq1A1elRH2eMpxHuPS4Rg

Welcome to this episode of Time2Talk, where we talk about interesting developments in the energy industry. In today's episode, join Lars Weber from Yggdrasil and Eszter Pontenagel and Paul Pontenagel from Time2Market, as they discuss:  👉 What 2.5 years of entering Japan really looks like👉 Why successful algorithms start with physics, not markets👉 How trading across continents becomes a natural hedge👉 The biggest trap new trading entrants fall into👉 Why 1 MW of manual trading is the secret to automation.👉 The next wave: batteries, AI, and unexpected new players. If you would like to be the next guest on Time2Talk, please do not hesitate to contact Time2Market. If you have an interesting guest in mind, leave their name in the comments, and we will get in touch. Do you want early access to watch all Time2Market episodes one week before they are published? Subscribe to Time2Market’s monthly newsletter here 👉 https://sy4ic.share.hsforms.com/2GEq1A1elRH2eMpxHuPS4Rg  𝐓𝐚𝐛𝐥𝐞 𝐨𝐟 𝐜𝐨𝐧𝐭𝐞𝐧𝐭𝐬: 00:00 – In today’s episode...01:30 – Welcome to the Studio: Introducing Lars Weber03:30 – Lars’ Early Career06:00 – Entering the UK Market & Discovering PPAs08:00 – Moving Back to Denmark & The Birth of Yggdrasil10:00 – Scaling to All US ISOs with Just 10 People12:30 – From Manual Trading to Full Automation15:00 – Entering Europe: New Complexity, New Strategy17:00 – Build or Buy? How Yggdrasil Built Everything In-House18:30 – Choosing Not to Scale Too Fast20:00 – The 2.5-Year Journey to Enter Japan24:00 – Why Cultural Commitment Is Essential in Japan26:00 – The Harsh Reality of Banking & KYC in Japan28:00 – How Japan Became One of the Most Volatile Markets in the World31:00 – Gas Shortages, LNG Price Shocks & The 2020 Crisis33:00 – Spot Trading vs. Global Correlations36:00 – Risk Diversification Through Geography38:00 – Strategy Scaling Across Markets: Physics Over Geography40:00 – Preventing Cross-Market Overexposure44:00 – Assetless Trading, Regulation & “Significant Support” Requirements46:00 – Learning Market Boundaries Through Practice48:00 – Transparency, Mistakes & TSO Relationships50:00 – Becoming an Asset Manager Without Losing Lean Structure52:00 – Servicing Customers Without Becoming a Service Company54:00 – Entering the US: ISO Expansion & Regulatory History56:00 – The Challenge of US Entry: PJM, SPP & Strict Onboarding Rules58:00 – Market Failures & Lessons Learned01:00:00 – Physical vs. Financial: Clearing Up a Common Misconception01:03:00 – Mistakes, Compliance & Why TSOs Value Self-Reporting01:06:00 – Scheduling, IT Stacks & Building Operating Systems In-House01:08:00 – The Hidden Complexity of Market Entry01:10:00 – Entering 40 Markets in Seven Years01:12:00 – The Future of Market Liberalization Worldwide01:14:00 – What Yggdrasil Will Become in the Next 3-5 Years01:16:00 – The Next Wave: Batteries, AI & New Entrants01:17:30 – Advice to New Market Entrants01:19:00 – Thank You For Today Legal disclaimer: This podcast is intended for informational purposes only and should not be considered business or legal advice. Time2Market does not guarantee the completeness, accuracy, and actuality of the information provided. The energy industry is extremely dynamic and conditions and requirements change frequently.  As a result, information discussed on this page is subject to change without notice. Time2Market's website: www.time2market.net Time2Market's LinkedIn: www.linkedin.com/company/time2market-market-management-servicesSubscribe to Time2Market's newsletter for early access and exclusive content: https://sy4ic.share.hsforms.com/2GEq1A1elRH2eMpxHuPS4Rg

Welcome to this episode of Time2Talk, where we talk about interesting developments in the energy industry. In today's episode, join Eleonora Pilla from Habitat Energy and Eszter Pontenagel from Time2Market, as they discuss:  👉 What energy markets can (and can’t) learn from Wall Street👉 Can algorithms beat human intuition in power trading👉 What it takes to launch and scale an energy trading company👉 How market rule changes create new winners (and unexpected losers) 👉 Why innovation, not size, is the new edge in energy trading If you would like to be the next guest on Time2Talk, please do not hesitate to contact Time2Market. If you have an interesting guest in mind, leave their name in the comments, and we will get in touch. Do you want early access to watch all Time2Market episodes one week before they are published? Subscribe to Time2Market’s monthly newsletter here 👉 https://sy4ic.share.hsforms.com/2GEq1A1elRH2eMpxHuPS4Rg  𝐓𝐚𝐛𝐥𝐞 𝐨𝐟 𝐜𝐨𝐧𝐭𝐞𝐧𝐭𝐬: 00:00 - In today’s episode...01:58 - Welcome Eleanora from Habitat Energy & Quark Energy Trading03:45 - Finding your place in the energy industry05:32 - Founding Quark Energy Trading and early market lessons07:18 - The UK’s energy market: opportunity or over-competition?09:05 - How transparency is reshaping power trading10:52 - The biggest challenges of running a modern trading business12:40 - Algorithmic trading in energy: what people still get wrong14:27 - What energy can (and can’t) learn from Wall Street16:15 - The art and science of predicting price volatility18:02 - Changing market rules and auction dynamics19:50 - The rise of utilities, aggregators, and flexibility markets21:37 - Building competitive advantage through innovation23:25 - The role of automation and human oversight25:12 - How energy trading will evolve over the next decade27:00 - From data to decision-making: the future of algo trading28:47 - What’s next for Quark and Habitat: growth, goals, and lessons learned30:32 - How collaboration and partnerships drive innovation32:15 - Why the human element will always define trading success34:00 - Final reflections: balancing technology, risk, and purpose35:42 - Thank you for todayLegal disclaimer: This podcast is intended for informational purposes only and should not be considered business or legal advice. Time2Market does not guarantee the completeness, accuracy, and actuality of the information provided. The energy industry is extremely dynamic and conditions and requirements change frequently.  As a result, information discussed on this page is subject to change without notice. Time2Market's website: www.time2market.net Time2Market's LinkedIn: www.linkedin.com/company/time2market-market-management-servicesSubscribe to Time2Market's newsletter for early access and exclusive content: https://sy4ic.share.hsforms.com/2GEq1A1elRH2eMpxHuPS4Rg