The 1st of March was an important milestone in the European electricity market. On that day 20 years ago, continuous intraday trading between Finland and Sweden started with the ELBAS product. At the same time, Fingrid removed the cross-border transmission tariffs from its Nordic connections.
The Nordic marketplace model for balancing energy is expanding to cover all of Europe.
Fingrid is continuing a pilot related to an independent aggregator model in the balancing energy market.
The industry transformation is reflected in the recruiting being done by energy companies. Fingrid still needs electrical engineering experts, but many other educational backgrounds are also suitable for transmission system operator employees.
The transition to the new model will affect very different actors, each of which sees the situation from its own perspective. We asked different parties how 15-minute imbalance settlement will affect their activities.
15-minute imbalance settlement period (ISP) will apply to the entire electrical energy industry and all market parties. The whole Nordic market area will switch to 15 min ISP at the same time, and according to the current schedule this will take place in December 2020.
Climate change, globalisation, urbanisation, digitalisation – megatrends are wide-ranging, global development directions that shape people’s lives, company activities, and societal structures. We asked different experts to tell us how megatrends can be seen in their work and how they affect the energy industry – and what may change forever in our world?
An electrical kit he received as Christmas gift sealed the career choice of Matti Supponen, who is an electricity market expert in the EU.
In 2016, the Ministry of Economic Affairs and Employment appointed a Smart grid working group made up of experts in energy markets. The group has now published its final report, which provides a vision for the smart grids of the future. The working group also presents concrete measures concerning how smart grids can promote the active participation of customers in the electricity market and thus contribute to maintaining security of supply.
One of Fingrid’s central tasks is electricity balancing, which means maintaining the balance between production and consumption. Fingrid uses fast and slow reserves for balancing, and purchases them from reserve markets. In the future, the importance of flexible resources will be even greater as production and also consumption become more variable. ”Hydropower can be regulated quickly, and that makes it a good reserve resource,” explains Expert Otso-Ville Rinne.
