For the past year, Fingrid has been actively making plans to implement the 15-minute imbalance settlement period. The shorter settlement period will put a more accurate price on electrical energy, promote investments in new technology, increase cost efficiency, and make it possible to offer moderately priced electricity.

The transition to the new model will affect very different actors, each of which sees the situation from its own perspective. The model being implemented has been discussed with market parties at a large number of events.

“The transition model was compiled by a reference group of industry representatives and the 15 min ISP team. We also met with more than 40 companies during the year. We presented our proposals for implementing the project and they were well-received in general,” explains Project Manager Maria Joki-Pesola, from Fingrid’s 15 min ISP project.

One of the key topics in this discussion has been the transition to 15-minute energy measurement.

“A harmonised imbalance settlement period and energy measurement are the prerequisites for ensuring that market party trading is allocated to the right quarter hour during imbalance settlement.

The issues taken into account when considering energy measurement included electricity market parties’ possibilities to participate in the 15-minute market, the investment needs of distribution networks, the role and schedule of datahub, the views of retail electricity suppliers concerning a simultaneous transition, and investments and innovations targeting consumers’ consumption flexibility.”

 

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