15 minute Imbalance Settlement Period quarter countdown
The Nordic Transmission System Operations have decided to switch from 1 hour to 15 minutes imbalance settlement period.
The go-live date for the 15-minute imbalance settlement period (ISP) will be on Monday May 22, 2023 at 00.00 CET, at the beginning of an imbalance settlement period.
The transition to 15-minute imbalance settlement also means that it will be possible to trade with 15-minute products in the Nordic intraday and balancing markets. Energy metering will, to some extent, move to 15-minute intervals, based on local legislation/regulation.
Moving to higher time resolution in the Nordic imbalance settlement will mainly affect the following aspects of the imbalance settlement:
- Changes in data exchange ediel.org – quarterly resolution for reporting
- Calculation of imbalances will be done for each 15 min ISP
- Settlement data may be viewed additionally with 15-minute resolution
Why the 15 min imbalance settlement period?
- Market model adapts to the changing power system
- Green transition – increasing amount of intermittent energy
- Incentivising maintaining the balance in more real time for more cost-efficient power system
- Increased possibilities for ancillary services
- Electricity market harmonization in Europe
- European legislation (EBGL, electricity balancing guideline)
eSett has published a 15 min ISP commissioning plan to help the market to identify and understand the changes that are relevant for them.
For additional information, please see the information on nordicbalancingmodel.net, and on the national TSO websites:
- Energinet: N/A
- Fingrid: fingrid.fi/varttitase (in Finnish)
- Statnett: 15-minutters-avregning-og-energimarkeder (in Norwegian)
- Svenska kraftnät: svk.se/15minuter (in Swedish)
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Webinar: 15 min ISP project status and testing phase
eSett arranged a webinar about the 15 min ISP project status and testing on Tuesday 10.1.2023 9:00-10:00 CET (10:00-11:00 EET). A recording of the webinar can be found below.
The webinar presentation can be found here. The Q&A part is included at the end of the presentation material in a written form.
Webinar: Commissioning Plan for 15 min Imbalance Settlement Period
eSett arranged a webinar about the Commissioning Plan for 15 min ISP on Tuesday 18.1.2022 9:00-10:00 CET (10:00-11:00 EET). A recording of the webinar can be found below.
The Commissioning Plan can be found above on this page and the material from the Q&A part of the webinar can be found here.