Fingrid and Nord Pool extend market surveillance cooperation to the aFRR energy market starting in May
Fingrid and Nord Pool have started a joint project on market surveillance of the aFRR energy market, which will start in May. The aim of the project is to have market surveillance of the aFRR energy market in cooperation with Nord Pool same time as the trading begins in the new marketplace. The ultimate responsibility for market surveillance and its implementation remains with Fingrid.
The aFRR energy market will start on 29 May 2024 when Fingrid joins the European market platform PICASSO. The objective of the market surveillance project launched early in the year is for Nord Pool to start monitoring the aFRR energy market in cooperation with Fingrid when the new market is launched.
Nord Pool has been Fingrid's service provider in the market surveillance of the mFRR energy market since June 2023. Nord Pool's market surveillance team may be in direct contact with market participants to ask for more information, e.g. on a bid placed on the market. Possible contacts on market surveillance come in English from market.surveillance(at)fingrid.fi email address.
The service agreement between Fingrid and Nord Pool enables the extension of outsourced market surveillance to other reserve markets as well. An extension to the aFRR energy market is important since the price of the aFRR energy market also affects the imbalance price. In addition, as a continuous market, the aFRR energy market is more vulnerable to abuse than the once-a-day capacity markets.
For further information contact:
Antti Raininko, Project Manager, Fingrid Oyj, antti.raininko(at)fingrid.fi, +358 40 829 0492
Background:
REMIT regulation (Regulation on wholesale energy market integrity and transparency)