17.3.2021 14:19
Current News, Electricity Market

Go-live date for 15-minute imbalance settlement period has been confirmed: 22.05.2023

The Nordic TSOs requested derogation from implementing the 15-minute imbalance settlement period (ISP) until 22.05.2023. The Nordic NRAs have granted the derogations according to the derogation requests, and the common go-live date for 15-minute ISP is thus confirmed.  

The transition from 1 hour to 15 minutes will happen on Monday 22.05.2023 00.00 CET, in the beginning of an imbalance settlement period. The transition to 15 minutes imbalance settlement also means the possibility to trade with 15-minute products in the Nordic intraday and balancing markets. Energy metering will, to some extent, move to 15-minute intervals, based on local legislation/regulation. 

Moving to higher time resolution in the Nordic electricity markets affects the market participants broadly and requires changes to many systems and processes. 

To ensure a successful implementation and offer sufficient support, the Nordic TSOs are planning webinars to inform stakeholders about future requirements and specifications. An implementation guide for market participants will also be provided. Stakeholder communication will be arranged at Nordic level in English and at local/national level in local languages. 

The first Nordic webinar is planned for Q2 2021, while publication of the first version of the implementation guide is planned for Q1 2022. 

As Norway still has to implement the European Balancing guideline into Norwegian law, Statnett has to send a formal request for derogation to the Norwegian regulator. However, Norway is following the same timeline as the other Nordic countries. 

Further information:  

Janne Heikka, Fingrid, Project Lead 15 min ISP, Janne.heikka@fingrid.fi 

Karsten Feddersen, Energinet, KAF@energinet.dk 

Meri Viikari, Fingrid, meri.viikari@fingrid.fi 

Lars Olav Fosse, Statnett, lars.fosse@statnett.no 

Daniel Sommar, Svenska kraftnät, daniel.sommar@svk.se 

www.nordicbalancingmodel.net