mFRR, manual Frequency Restoration Reserve

mFRR bids can be submitted for resources that are able to implement a power change within 12.5 minutes in accordance with the minimum bid size. 

mFRR Capacity bids 

The minimum bid size for the mFRR capacity market is 1 MW and bids are submitted with an accuracy of 1 MW. Bids for the next day will be submitted at 08:30 (Finnish time) on the Fifty MMS market platform maintained by the Nordic TSOs in accordance with Fingrid's separate Reserve Trading and Information Exchange and BSP - Implementation Guide Nordic MMS – mFRR capacity market guidelines. 

mFRR Energy bids 

In the mFRR energy market, the minimum bid size is 1 MW and bids are submitted with an accuracy of 1 MW.  

mFRR offers are submitted to Fingrid no later than 45 minutes before the market period (15 minutes) in accordance with Fingrid's Reserve Trading and Information Exchange Guidelines. 

The prices of balancing energy are set based on the balancing carried out in the Nordic balancing energy markets. Both an up regulating and down regulating energy prices are set for each operational hour. 

The up regulating price is the price of the most expensive up regulating energy bid used, however at least the price in the Finnish price area in Nord Pool (Elspot FIN).

Everyone from whom Fingrid has ordered up regulating during the hour receives payment for the energy agreed based on the up regulating energy price.

The down regulating price is the price of the cheapest down regulating energy bid used, however no more than the price in the Finnish price area in Nord Pool (Elspot FIN).

Everyone from whom Fingrid has ordered down regulating during an hour pays the down regulating energy price for the agreed energy.

The balancing energy prices also serve as a basis for the pricing of imbalance power.

Balancing energy prices are primarily published on Nord Pool's website no later than two hours after the operational hour in question.

mFRR energy prices are determined based on mFRR energy bids selected for activation in the Nordic mFRR energy market or locally. For each market time unit, both an up- and a down-regulation prices are determined. 

The upward price is the price of the most expensive upward bid activated in a bottleneck-free area. All up-regulation offers that Fingrid has activated for balancing purposes will be paid for energy according to the up-regulation price. 

The down-regulation price is the price of the cheapest down-regulation bid used. All down-regulation bids that Fingrid has activated for balancing purposes will pay for energy according to the down-regulating price. 

mFRR energy offers can also be activated as special regulation, i.e. for purposes other than balancing. In this case, the price of the bid is paid for the activation on a pay-as-bid basis. 

The price of mFRR energy is also the basis for pricing the imbalance energy. 

mFRR energy prices are primarily published on Nord Pool's website, in the NUCS system and on the ENTSO-E transparency platform, as well as in Fingrid's open data, as a rule, within 30 minutes of the end of the market time period. From time to time, there may be deviations in the publication of the price, which are described in more detail in this document. 

In the mFRR capacity market, the balancing service provider receives capacity compensation on a marginal price basis, i.e. according to the most expensive accepted offer. The amount of the compensation will be determined after the procurement period based on the mFRR energy offers submitted. 

The mFRR market agreements are consistent in terms and content and are publicly available. 

Data on the mFRR reserve market can be found on the Reserve Market Information page and on the Fingrid Open Data service.