The Nordic Balancing Model reference group will begin operating

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 group is tasked with identifying the impact of the Nordic Balancing Model on the sector, seeking solutions to support the implementation of the project, and acting as a communication channel with others in the sector.

For the last two years, Fingrid has been assisted on the 15-minute imbalance settlement project by a reference group. The key issues relating to the 15-minute imbalance settlement period have been successfully addressed, and the common viewpoints of the sector have been identified. The new group will discuss the changes that the entire Nordic Balancing Model will introduce to the electricity market, one of which is imbalance settlement with a 15-minute trading period.

The reference group is due to meet for the first time in November. The group will meet about four times per year, and the meeting material will be published on Fingrid’s website. The Nordic Balancing Model also includes a reference group representing the sector in all of the Nordic countries. This group’s meeting materials and the other project details are available at: nordicbalancingmodel.net/ 

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