27.12.2021 11:57
Current News, Electricity Market

Balance service fees of balance responsible parties to rise on 1 February 2022

Fingrid will increase balance service fees of balance responsible parties from 1 February 2022. Key reasons for the increase are a rise in the costs of market-based reserves and by the end of the year continued uncertainty in the market environment, which has caused imbalance costs to be higher than forecast.

The fees for balance responsible parties volume fee (for actual production and consumption) ​will change as of 1 February 2022, increasing the current fee to EUR 0.41/MWh (currently EUR 0.36/MWh). The increase is approximately 14 per cent. Other balance service fees will remain unchanged.

In the current market environment, the costs of the balance service have been higher. The main background factors are a rise in the costs of market-based reserves, which are used to balance out generation and consumption in the power system and the end of the year disparities in area and imbalance power prices, combined the surpluses of balance responsible parties between Finland and the other Nordic countries, and the costs thereby arising.

Changes in market conditions will occur more frequently as the energy revolution progresses, resulting in significant fluctuations in costs. Fingrid reviews balance service fees quarterly to ensure that the costs of balance services are more consistent with the fees charged for them.

Further information:
Jani Piipponen, Manager, balance services, Fingrid, tel. +358 30 395 4186