High clearing prices in the Nordic aFRR Capacity Market
High clearing prices in the Nordic aFRR Capacity Market During the last week, the procurement of aFRR balancing capacity in the common Nordic aFRR capacity market has resulted in unusually …
Balancing production and consumption of electricity is essential in order to uphold the power system and deliver electricity to all consumers. Nordic power grids are coupled and Nordics have a long history of cooperation for balancing. The Nordic power system is transforming with more unregulated production like wind and solar and increased cross-border exchange.
Markets get a finer granularity and more trade is taking place closer to the operational hour. To meet these changes, the Nordic TSOs are developing the Nordic balancing of tomorrow in the joint program Nordic Balancing Model (NBM).
Through automation and new markets, we will facilitate the energy transition, enhance the socioeconomic benefits from our common Nordic market and have a safe connection to the new European platforms for exchange of balancing power. The implementation of NBM depends upon close cooperation with stakeholders and approvals by national regulatory authorities (NRAs).
This short film gives you an explanation about the significant change.