Information exchange in the electricity retail market enters a new era – Datahub goes live successfully
Datahub, the centralised information exchange system for the electricity retail market, went live on 21 February 2022. Datahub centralises the data from about 3.8 million electricity accounting points in a single system, and it significantly accelerates the exchange of information in the electricity retail market. Datahub is a key part of the flexible power system of the future.
The electricity retail market reached a significant milestone when Datahub, the centralised information exchange system, went live successfully. System suppliers and companies operating in the electricity retail market have worked closely together over the past few years to build the Datahub. Approximately 80 electricity retailers and 80 distribution system operators will begin using Datahub.
The centralised system enables the fair, real-time, and secure exchange of information between companies and accelerates customer service at electricity companies. The transition to Datahub will also reduce the number of errors arising during market processes and facilitate the consolidation of multiple accounting points under a single electricity contract.
The go-live of the system is a major step for the electricity retail market in the journey towards the flexible electricity system of the future. Datahub is being further developed to meet the evolving needs of the energy market, and it will enable the creation of energy communities and the introduction of a 15-minute imbalance settlement period in 2023.
Centralised information exchange helps to make full use of smart grids and smart meters and generates possibilities for new business opportunities and services in areas such as energy efficiency monitoring, electric vehicle charging businesses, and offering demand-side management in the market. Datahub also helps to handle distributed electricity generation and increases competition in the retail market.
In accordance with the Electricity Market Act, the system will store information related to electricity accounting points, including customer and consumption data, which has previously been decentralised and stored in various companies’ systems.
”Datahub go-live represents a step towards a low-carbon electricity system of the future. It enables electricity consumers to participate actively in the market and will increase the share of renewable small-scale generation in the electricity system. What’s more, digitalisation also enhances cross-border co-operation, enables smart network tariffs, improves the exchange of information and deepens the integration of the system,“ describes Riku Huttunen, Director General from the Ministry of Economic Affairs and Employment.
“The Datahub project began in 2015, and the determined work of the project parties has culminated in today’s go-live. We have succeeded in our joint efforts with entities from the industry, and the go-live went according to plan. I would like to thank everyone involved in making this important change. Without good, seamless collaboration, this would never have been possible,” says Pasi Aho, CEO of Fingrid Datahub Oy.
“In an era of climate change and energy transformation, the smooth functioning of the electricity market and the utilization of data is more critical than ever before. Datahub is right in the core of this as the digital heart of the electricity market. In building it, we utilized our international experience and expertise in the market platforms we have built for the energy industries in various countries,” says Leena-Mari Lähteenmaa, President and, Managing Director of CGI Finland.
The go-live of the centralised information exchange system is based on the Electricity Market Act. An amendment to the Electricity Market Act that took effect in February 2019 obligated electricity retailers and distribution system operators to use Datahub services for purposes like exchanging information in the electricity retail market and managing information on business processes in electricity transactions.
The legislative amendments preceding the go-live of Datahub took effect in October 2021. The system will be maintained by Fingrid Datahub Oy, a subsidiary of Finland’s main grid operator, Fingrid Oyj. The system supplier is CGI Finland.
For more information contact:
Pasi Aho, CEO, Fingrid Datahub Oy
Mobile +358 400 778 417
Arto Rajala, Senior Ministerial Adviser from the Ministry of Economic Affairs and Employment
tel. +358 50 434 4928
Read more: www.fingrid.fi/datahub