Previously, reserve power was mainly generated by power plants, but nowadays, it is increasingly provided by large factories and battery installations.
The use of reserves and the need for new types of reserves are increasing substantially due to the energy revolution, Nordic balance management requirements, and the commissioning of the Olkiluoto 3 nuclear power plant. At the same time, the cost of obtaining reserves is increasing.
Other factors exerting upward pressure on the price of reserves include the discontinuation of reserve trading with Russia and higher prices in the electricity market.
Fingrid procures reserves in a way that is as market-based as possible from several different sources in Finland and its adjacent neighbours, which contributes to ensuring the adequacy and cost level of reserves.
We are developing new Nordic marketplaces alongside our national reserve markets. At the moment, we are studying the possibility of making longer-term reserve agreements, for example.
The growing need for reserves in the power system is also an opportunity for operators in the sector to build new businesses. A good way to kick off the planning process is to visit Fingrid’s website, which provides plenty of information on topics such as the acquired reserves and actual prices.