Nordic Balancing Model
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.
Comments on electricity markets and the Nordic Balancing Model: Work to be done; efficiency cannot be compromised
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.