Denmark joins the Nordic imbalance settlement
Denmark has today joined the Nordic imbalance settlement managed by eSett Oy. Owned by the Nordic transmission system operators eSett has already previously managed Finland’s, Norway’s and Sweden’s imbalance settlement.
The expansion of the imbalance settlement to the Danish market is a major step towards further integration and development of the Nordic electricity market. This takes the Nordic countries closer to the 15-minute settlement and one-price model as well as the substantial benefits associated with these changes.
The harmonization of the imbalance settlement in the Nordics makes it easier for the electricity market participants to enter new markets and compete at equal terms. This will increase competition to the benefit of Nordic consumers. A specialized operator like eSett can handle the imbalance settlement operations more effectively, bringing synergies to all parties.
"We are extremely happy to be able to do our part in making the Nordic market more efficient and to help Danish consumers to reap the benefits, too" says Minnakaisa Ahonen, CEO of eSett.
In 2013, Fingrid, Statnett, and Svenska kraftnät formed eSett Oy to establish a joint imbalance settlement for Finland, Norway, and Sweden. In 2017, eSett Oy took over the operational responsibility for the imbalance settlement and invoicing of the market participants in Finland, Norway, and Sweden with the commissioning of the Nordic imbalance settlement model. The Danish Transmission System Operator (TSO) Energinet became an equal owner of eSett in 2019.
Further information:
Minnakaisa Ahonen, CEO, eSett Oy, tel. +358 50 542 5427, e-mail minnakaisa.ahonen@esett.com
Previously published: Energinet joins the Nordic imbalance settlement and becomes shareholder in eSett Oy >
Vocabulary: Imbalance settlement refers to the commercial processing of power to balance the difference between electricity consumption and production. Imbalance settlement is performed once the consumption and production data is available, at which point, the market participants will be charged or paid the imbalance amount.