15-minute settlement comes, steps one - two – three
The Balance settlement period becomes shorter, as been defined by the EU. The entire Nordic region will switch to 15 minutes settlement, at the same time. This will be completed by December 2020 at the latest. We in the Nordics are not the first, as some of Europe moves to a shorter intraday trading before the Nordic countries and some already have a 15 minutes market. For the Nordic countries, it is beneficial to have a simultaneous start-up, because we are in a common market with common computer systems.
Discussions have been conducted on a broad front in the Nordic field, with representatives of sales companies, production and balance responsible, large consumers and distribution network holders. The goal has been to get an impartial model for all parties, to find a cost-effective model without large and temporary investments, and to achieve good cooperation and understanding with effective decision-making.
We move gradually to 15-minute settlement
Transition phase 1
Balance settlement and part of the marketplaces to 15 min simultaneously throughout the Nordic region. eSett enables conversion from 60 minutes to 15 minutes and they handle both 15 and 60 minutes data. In this phase, all production exceeding 1MW is measured for 15 minutes.
Transition phase 2
Distribution network balance sheet to 15 min. The Datahub makes the distribution network's balance sheet and activates the conversion from 60 min to 15 min. All data is not yet counted for 15 minutes.
Transition phase 3
All trading at 15 minute intervals. Intraday trading is done with 15 minute intervals and (small) consumer values are increasingly in use. All data is for 15 minutes.
The balance period will be shorter and the new settlement period will be put into use no later than December 2020. The plan for implementation has been processed up to the end of the year 2018 and we are now waiting for a more detailed report.
The change has a large impact on the market, as it affects both the balance management and settlement, the energy trade, invoicing and measurement data. We will see new products on the electricity market, the energy demand response value and needs grow and among other things the robot for Elbas trading becomes a necessity.
Empower's energy control system EnerimEMS is ready to implement 15 minutes of balance changes both for balance responsible and at the sales level in the timetable that will be commonly defined throughout the Nordic region and in the Baltics. The newly introduced new system version is part of the preparations for short-term changes in the energy market. The consumer information system will be revised according to market requirements.
We at Empower work for a smooth everyday life for you on the electricity market, please contact us for more detailed discussions on how we can help you with the changes in the electricity market now and in the future.
We welcome the 15 minute balance settlement!
- Fingrid Roadshow November 2018
- eSett Customer Committee meeting minutes