Page 1 Created with Sketch. Page 1 Created with Sketch. Page 1 Created with Sketch. Page 1 Created with Sketch. Artboard 1 copy 14Artboard 1 copy 7Artboard 1 copy 66Artboard 1 copy 23Artboard 1 copy 16Artboard 1 copy 55Artboard 1 copy 43Artboard 1 copy 50Artboard 1 copy 54Artboard 1 copy 34Artboard 1 copy 51Artboard 1 copy 36Artboard 1 copy 35Artboard 1 copy 46Artboard 1 copyArtboard 1 copy 31Artboard 1 copy 48Artboard 1 copy 9Artboard 1 copy 27Artboard 1 copy 8Artboard 1 copy 20Artboard 1 copy 2Artboard 1 copy 24Artboard 1 copy 62Artboard 1 copy 30Artboard 1 copy 41Artboard 1 copy 28Artboard 1 copy 26Artboard 1 copy 67Artboard 1 copy 52Artboard 1 copy 33Artboard 1 copy 29Artboard 1 copy 19Artboard 1 copy 53Artboard 1 copy 22Artboard 1 copy 21Artboard 1 copy 12Artboard 1 copy 13Artboard 1 copy 47Artboard 1 copy 49Artboard 1 copy 57Artboard 1 copy 32Artboard 1 copy 4Artboard 1 copy 25Artboard 1 copy 10Artboard 1 copy 15Artboard 1Artboard 1 copy 56Artboard 1 copy 11Artboard 1 copy 38Artboard 1 copy 65Artboard 1 copy 39Artboard 1 copy 5Artboard 1 copy 58Artboard 1 copy 6Artboard 1 copy 17Artboard 1 copy 40Artboard 1 copy 60Artboard 1 copy 3Artboard 1 copy 45Artboard 1 copy 18Artboard 1 copy 42Artboard 1 copy 61Artboard 1 copy 63Artboard 1 copy 64Artboard 1 copy 59Artboard 1 copy 44Artboard 1 copy 37 Combined Shape Created with Sketch. icon/info Created with Sketch. icon/info Created with Sketch. Group 17 Created with Sketch. Fill 1 Created with Sketch. Page 1 Created with Sketch. 99021DFE-DB58-4EE2-9D52-C2BF154A8B0A Created with sketchtool. Oval 2 Created with Sketch. Combined Shape Created with Sketch. Combined Shape Copy Created with Sketch. Group 18 Created with Sketch. Group 16 Created with Sketch. Page 1 Created with Sketch. ; ;
  • Home /
  • News /
  • Current news /
  • 20 years of intraday trading in Finland – Fingrid as a forerunner in the electricity market
« Back to search
6.3.2019 12:14
Electricity Market, Press Releases

20 years of intraday trading in Finland – Fingrid as a forerunner in the electricity market

Continuous intraday trading started between Finland and Sweden twenty years ago with the introduction of the ELBAS product. At the same time, 1st of March in 1999, Fingrid Oyj, the Finnish transmission system operator, removed the tariffs for cross-border trade on its Nordic borders.  

The intraday market that was launced between Finland and Sweden in 1999 was the world’s first market for continuous cross-border trading. Later the market expanded regionally, and it was used as an example to the European target model for electricity market.

XBID (Cross-Border Intraday Market) was launched in June 2018 as part of the implementation of the European target model for intraday. Currently there are 14 counties in the common European intraday market: Netherlands, Belgium, Spain, Austria, Latvia, Lithuania, Norway, Portugal, France, Sweden, Germany, Finland, Denmark and Estonia. The aim is that more countries will join XBID and it will be possible to trade within the whole Europe in the future.

Intraday trading supports the power system

Intraday trading refers to electricity trading close to the delivery of the product. Intraday trading allows market players to balance their electricity consumption and production closer to real-time and support the balancing of the power system. Intraday trading is continuous for each hour around the clock. Currently it is possible to trade in Finland and between Finland and Estonia until 30 minutes before the start of the delivery hour. On the Finnish-Swedish border, as well as elsewhere in the Nordic countries, trading closes 60 minutes before the start of each delivery hour.

The importance of the intraday market will increase in the future together with the increased amount of intermittent generation (e.g. wind and solar generation). Fingrid aims to promote market-based solutions and possibilities to trade close to real time.

 

More information:
Heini Ruohosenmaa, Special Adviser
+358 (0)30 395 4187