Electricity market
Does the energy industry need branding?
As competition increases in the energy industry, being able to stand out will become even more important.
23.11.2017
As competition increases in the energy industry, being able to stand out will become even more important.
Maintenance is constantly becoming more proactive – and more digital. For Fingrid, it has always been vitally important to handle any servicing in a way that minimises the resulting disruptions. Digitalisation helps to keep costs low and outage times short – and eliminate them entirely in the best case.
Fingrid and the transmission system operators (TSO) in Sweden and Norway switched to joint imbalance settlement in the spring. The centralised model improves electricity market efficiency marks a step towards a joint-Nordic end user electricity market.
The guideline on electricity balancing was approved in a vote by EU member states in March 2017. The harmonised requirements are expected to entry into force by the end of the year. The guideline promotes the cross-border trade of reserves needed by TSOs, in particular balancing energy, and harmonises procedures concerning imbalance settlements.
The electricity market has undergone a complete transformation in Europe, the Nordic countries and Finland over the past 20 years. A lot more will change in the near future as well.
Introduction of European Cross-Border Intra-Day Market (XBID) solution will be an important step forward – but integrated European electricity market needs more improvements, believes Tomasz Sikorski from PSE.