Simultaneous transition to 15-minute imbalance settlement in the Nordic countries

Share
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.

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.”

 

Read morewww.fingrid.fi/varttitase (In Finnish)

  • 15-minute imbalance settlement period (15 min ISP) means moving from the current one-hour period to 15-minute.
  • The transition to 15 min ISP will happen in phases. During the first phase, the 15-minute period will be implemented in the imbalance settlement of balancing responsible parties and in some energy markets. Use of the 15-minute period for imbalance settlement related to distribution networks will begin when datahub is taken into use. Energy metering will also switch to 15-minute resolution in phases.
  • 15 min ISP will be implemented in all EU countries and the change is based on EU legislation.

Comments

Leave a Reply

Your email address will not be published.

Fingrid Oyj
Läkkisepäntie 21
00620 Helsinki
Tel. 030 395 5267

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.