The energy revolution and the transition to European markets require Nordic transmission system operators to make changes to their balance management and imbalance settlement processes. The joint Nordic balancing model program consists of several projects. The first of these – the single pricing model – will be completed this November.
The joint Nordic balancing model is making progress in Finland and all across the region. Some adjustments have been made to the timetables.
The story of the Nordic Balancing Model management project run jointly by the Nordic transmission system operators does not begin with Danish hygge or Swedish café culture, writes Maria Joki-Pesola, Program Lead of the Nordic Balancing Model program.
Fingrid is setting up a reference group for the Nordic Balancing Model. The project is a common project throughout the Nordic countries, but the group convened by Fingrid consists of Finnish market participants, and it will focus on the implementation of the project from a Finnish perspective.
The Nordic Balancing Model is an enormous, multi-year development program that is being conducted on a national and pan-Nordic level. The project will have a major impact on Fingrid, as well as all electricity market parties.
We asked four electricity market specialists how they see electricity markets developing and the Nordic Balancing Model progressing as representatives of their organisations. The responses reveal concerns over the continued transparency of electricity markets and the costs of the Nordic balancing model. There is work still to be done, as the 15-minute imbalance settlement period will require a substantial change to electricity metering.
Fingrid Oyj
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Tel. 030 395 5267
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Fingrid is Finland’s transmission system operator. We secure reliable electricity cost effectively for our customers and society, and shape the clean, market-oriented power system of the future.
