15-minute balance settlement – Empower is ready!
The monitoring and trading period on the Nordic electricity markets will shorten from one hour to 15 minutes in the next few years. This transition will affect the entire electricity supply chain from the meter to the electricity bill and necessitates the assessment of current operating models, equipment and systems. Some Nordic suppliers are already required to provide production plans at a 15-minute resolution and, as a result, Empower has been preparing for the 15-minute balance settlement period in good time. We are already able to process and report 15-minute data.
Our EnerimEMS energy management system enables the planning, implementation and reporting of a 15-minute balance, regardless of the time period of the measurement and trading data:
- Planning phase
Production and consumption forecasts can be made using a 15-minute time resolution. The accuracy of production forecasts will be increasingly important in the future as the share of wind and solar production capacity is on the rise. Bids on the Elspot market can be formed directly based on 15-minute forecasts, or various methods can be used for dividing an hourly forecasts into 15-minute periods.
- Real-time balance management
The role of real-time balance management becomes highlighted with the adoption of a shorter trading period. Real-time production and consumption data (per 1 or 3 minutes) combined with real-time corrections give us an excellent snapshot of the current balance. This enables conscious choices about, for example, intraday trading and production controls.
As the trading cycle becomes shorter, automation is needed for successful balance management. Our EnerimAIDA robot ensures tireless trading on the Elbas market around the clock, every day of the year. AIDA is supported by our 24/7 control room, which ensures the accuracy of the data and communication with clients in irregular situations.
The system allows the reporting of production, consumption, trading and imbalance data as a 15-minute average capacity (MW, 15 min), and the amount of energy as hourly data (MWh).
In addition to the readiness of our EnerimEMS system for 15-minute balance settlement, our experts are also prepared to assist our clients with matters related to a shorter monitoring and trading period. Consultations can begin with a 15-minute phone call or a one-hour meeting.