17.6.2024 12:51
Current News, Electricity Market

Fingrid expands outsourcing of market surveillance to aFRR energy market

Fingrid outsources regular monitoring of aFRR energy market to Nord Pool. The final responsibility for market surveillance and its implementation remains with Fingrid. The cooperation will enhance market surveillance and is continuation of the cooperation that started a year ago.

Fingrid and Nord Pool's joint project on aFRR energy market surveillance started in January 2024, and cooperation of regular market surveillance begun from the launch of the new aFRR energy market. Under the arrangement, Nord Pool's market surveillance department is responsible for regular monitoring of the aFRR energy market and reports to Fingrid on potential breaches of REMIT Regulation articles 3, 4 and 5 (insider trading, publication of inside information and market manipulation). The arrangement is similar to the market surveillance of the mFRR energy market, which Fingrid outsourced to Nord Pool in summer 2023.

When performing surveillance work, Nord Pool's market surveillance department may be in direct contact with reserve market participants to ask for additional information, for example, about bids submitted to the market. Fingrid, as the PPAET (Person Professionally Arranging and Executing Transactions) under the REMIT Regulation, is responsible for the overall market surveillance and reports any suspected misconduct to the Energy Authority and ACER.

Any contacts regarding market surveillance will come in English from market.surveillance(at)fingrid.fi, and market participants can also send questions about surveillance to the same address.

Cooperation with Nord Pool will enhance market surveillance from the current level. The reliability and transparency are important for well-functioning energy markets and for promoting the confidence of market participants and end customers.

In addition to the mFRR and aFRR energy markets, Fingrid also reports anomalies detected on other reserve markets.

For more information:

Antti Raininko, Project Manager, Fingrid Oyj, antti.raininko(at)fingrid.fi, +358 40 829 0492
Hanna Nurmilo, Market Surveillance Contact Person, Fingrid Oyj, hanna.nurmilo(at)fingrid.fi +358 40 559 0805

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

REMIT 2 Regulation (Regulation amending the original REMIT Regulation. Entered into force on 7.5.2024)