Fingrid starts cooperation with Nord Pool on market surveillance of the mFRR energy market

Market surveillance in Fingrid’s balancing markets will improve in June as Fingrid partially outsources the market surveillance of mFRR energy market to Nord Pool. The ultimate responsibility for market surveillance and its implementation remains with Fingrid.

Fingrid and Nord Pool started a joint project for organizing market surveillance in September 2022 and the cooperation of regular market surveillance will begin during June 2023. Under the arrangement, Nord Pool's Market Surveillance department is responsible for regular monitoring of the mFRR energy market and reports to Fingrid on possible violations of Articles 3 and 5 (insider trading and market manipulation) of the REMIT Regulation.

According to Energy Agency, Fingrid meets the definition of a person professionally arranging transactions (PPAT) and falls under REMIT regulation for the balancing markets.

In carrying out supervisory work, Nord Pool's Market Surveillance department may be in direct contact with reserve market participants to ask for more information, for example, about bids submitted to the market. As PPAT, Fingrid is responsible for the entity of market surveillance and reports potential misconducts to the Energy Agency. Any contact with market surveillance comes from market.surveillance(at)fingrid.fi and questions about surveillance can also be sent to the same address.

Cooperation with Nord Pool enhances market surveillance from the present. Reliability and transparency are important for a well-functioning energy market and for promoting the confidence of market players and end customers.

In addition to the mFRR energy market, Fingrid also reports anomalies detected in other reserve markets.

Additional information

Antti Raininko, Project Manager, Fingrid Oyj, antti.raininko(at)fingrid.fi, +358 40 829 0492

Hanna Nurmilo, Contact Person for Market Surveillance, Fingrid Oyj, hanna.nurmilo(at)fingrid.fi +358 40 559 0805

REMIT regulation (Regulation on wholesale energy market integrity and transparency)