15.8.2018 11:15
Current News, International News, Electricity Market

Fingrid participating in an EU project aiming to develop a flexibility market platform

A new kind of flexibility platform will be piloted in Finland, Estonia and Latvia as a part of a broad Horizon 2020 EU project. The four-year project is a step towards more real-time and distributed electricity markets and will create new business opportunities to the industry. Fingrid is participating in the project.

European Commission has granted funding from the Horizon 2020 programme for a project consortium that Fingrid is part of. The four-year project is aiming to develop and demonstrate a new kind of market place for power system flexibility services and its processes.

The broad EU project is comprised of several work packages. Fingrid is a part of a working group led by the Estonian transmission system operator Elering. This group will demonstrate a flexibility platform covering Finnish, Estonian and Latvian electricity markets. The platform is envisioned to enable the utilization of power system flexibilities for both maintaining power system balance and the needs of distribution system operators as well as balance responsible parties.

"Development of a flexibility platform is a step towards more real-time electricity markets and utilizing distributed resources more effectively. In addition, the platform will bring new possibilities for innovative market players and makes it possible for resource owners to profit from their flexible assets." says Risto Lindroos who is a Senior Advisor at Fingrid and working in smart grid development.

The entire project consortium consists of 42 members from 15 different countries. In addition to Fingrid, other Finnish participants are Elenia, Empower and Tampere University of Technology.

More information:

Risto Lindroos, Fingrid, tel. +358 40 501 9996

Heidi Uimonen, Fingrid, tel. +358 40 661 9229