Fingrid enables intraday gate closure time of 0 minutes in Finland – pilot starts during fall 2019
Fingrid’s customers and Finnish market participants have expressed a preference for having a possibility to trade closer to real time. Currently intraday gate closure time in Finland and on Finnish-Estonian border is 30 minutes and on Finnish-Swedish border and elsewhere in the Nordic countries 60 minutes.
Fingrid responds to its customers’ request by enabling intraday trading within Finland until the start of the delivery hour and enabling reporting of power exchange trades to the balance settlement purposes after the delivery hour. The pilot concerns trading in power exchanges and is about the start during fall 2019. The exact schedule depends on the power exchanges that are active in Finland, and their capability and interest to offer their customers a possibility to trade until the start of the delivery hour. The duration of the pilot is 6 months and the pilot is considered to start as soon any of the power exchanges active in Finland implements 0 minutes intraday gate closure time in Finland.
Fingrid evaluates the pilot based on e.g. customer satisfaction, traded volumes and imbalances. Based on the results of the pilot, Fingrid evaluates the possibility to continue with the 0 minutes gate closure time also after the pilot period. Fingrid reserves a right to suspend the pilot in an unlikely case if the pilot has a negative impact on the operational security.
Heini Ruohosenmaa, Expert, Market Solutions, Fingrid Oyj, tel. +358 30 395 4187