Fingrid increases real-time market information about balancing power
Fingrid is extending the test for real-time publication of balancing power pricing data. The aim is both to increase the transparency of the electricity market and to create a level playing field for all operators on the market. Fingrid targets to enable the participation of flexible electricity consumption, production and storage in the electricity trade increasingly close to real time.
The testing period for the real-time publication of balancing power pricing data in scarcity situations was launched in late 2016 and it was last extended in December 2017. The practice of the extended testing period has been that pricing data is to be published in situations where Finland is decoupled into a separate regulation area and remaining voluntary up-regulation bids amount to 150 megawatts or down-regulation bids to 100 megawatts. The change made today eliminates the megawatt limits, and the price of the last activated balancing power bid will always be published in situations where Finland is decoupled into a separate regulation area.
Pricing data will be published in connection with the state of the power system picture. Pricing data will also be available in Fingrid’s open data service. Finland is the only Nordic country to publish balancing power pricing data in real time. The testing period will be continued until further notice.
Balancing power and regulation area: The balancing power market provides resources for balancing the production and consumption of electricity in real time. Fingrid requests either up- or down-regulation bids, i.e. balancing power, from the balancing power market as needed. In situations where the cross-border transmission links between Finland and the Nordic countries are in full use, no additional balancing power can be imported from other Nordic countries. In this case, only Finnish balancing power bids can be utilised. This means that Finland is decoupled into a separate regulation area.
Up-regulation:Increase in production or reduction in consumption.
Down-regulation: Reduction in production or increase in consumption.