15 min Imbalance Settlement Period

The Nordic Transmission System Operators have decided to switch from 1 hour to 15 minutes imbalance settlement period. The transition is separated into multiple phases. The go-live date for the 15-minute imbalance settlement period (ISP) in eSett was on Monday May 22, 2023 at 00.00 CET.

Related steps regarding 15 min Imbalance prices and 15 min cross-border trading will take place in the Nordic electricity market during Q1 2025.

Balancing Service Provider (BSP) Model and Independent Aggregator

The Nordic Imbalance Settlement model is undergoing changes with the introduction of a new role called the Balancing Service Provider (BSP), responsible for providing balancing energy or capacity to the Transmission System Operator (TSO). This transition involves splitting the current responsibilities of the Balance Responsible Parties (BRPs) into two roles: BRP for imbalances and BSP for balancing energy and capacity, where Independent Aggregator will be participating.

The introduction of the Independent Aggregator in the Nordic Imbalance Settlement model aims to improve the efficiency, competition, and reliability of the electricity market while enabling the integration of renewable energy sources and ensuring grid stability.

Cash Account Model

eSett is renewing the settlement account model based on customer feedback. The project involves separating the collateral and invoicing accounts into two distinct accounts. This provides greater flexibility and options for customers for managing cash and collateral.

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Merged Production will be taken into use in Sweden

Svenska kraftnät has chosen to take Merged Production into use in Sweden on 1.4.2024. This type of aggregated production offers Swedish distribution system operators a different way to model and report production alongside with Production Units. Merged production allows to reduce the number of Production Units in the system and provides therefore an easier way to handle production as it requires less structural changes from the distribution system operators.

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PICASSO

PICASSO (The Platform for the International Coordination of Automated Frequency Restoration and Stable System Operation) is the project to establish a common European energy activation market for aFRR-energy. eSett will handle the settlement and invoicing of aFRR energy activations for the relevant market participants. As a basis for the settlement, eSett receives information of the aFRR energy activations from the TSOs.

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Changes in Data Flow Contents

eSett will implement several changes to the data flows gradually over the course of 2024 and 2025. While these changes may seem relatively minor, it is crucial for you to familiarize yourself with them and evaluate their impact on your systems. These modifications will eventually affect the communication of data flows both from market participants to eSett and vice versa.

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Intraday Auctions

The Intraday Auctions will be a new market for trading physical power. They will provide a clear price signal, increased transparency in the market and new trading opportunities. They will comprise three new daily Intraday Auctions, running at 15:00, 22:00 and 10:00 CE(S)T.