27.6.2018 / eSett looks forward to truly Nordic imbalance settlement

In 2017 eSett took over the operational responsibility for imbalance settlement and the market participants in Finland, Norway and Sweden. The three nations’ Transmission System Owners (TSOs) Fingrid, Statnett and Svenska kraftnät currently own equal shares of eSett and have financed the company on an equal basis. Together with its owners eSett and Denmark’s TSO Energinet have started to investigate the possibilities for Energinet to join the common imbalance settlement. The four Nordic TSOs have signed a Letter of Intent confirming that it is their joint desire that Energinet joins the existing cooperation which will facilitate market harmonization and common imbalance settlement practices across Nordic countries. All parties are committed and are proceeding with approval process in their organizations.

The exploratory talks between all parties have proceeded with positive spirit and in good co-operation which is why eSett is expecting a favourable outcome of coming negotiations. The first year of eSett’s operation has been a success and the company is excited about the new possibility of offering services to Denmark also. “We are committed in high-quality service and promise to deliver imbalance settlement to Denmark as well as all to all of our customers with expertise and joy” states Minnakaisa Ahonen the CEO of eSett. Technical investigations will be deepened in order to estimate the changes that are necessary in the IT-systems, also need for regulatory approval will be examined. If all parties reach an agreement Energinet will become eSett’s shareholder by January 2019.

For further information, please contact:
Minnakaisa Ahonen, CEO eSett Oy, tel. +358 10 501 8502, Minnakaisa.ahonen@esett.com

Read more:
Energinet
Fingrid
Statnett
Svenska Kraftnät (in Swedish)