Notes from stakeholder reference group meeting 24 March 2022

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The goal of the meeting was to present the status of the NBM program, explaining the reasons behind the delay of mFRR EAM and to discuss the impact on 15-minute imbalance settlement period and 15-minute markets.    

The NBM program director Alexander Jansson described the dependencies between different Nordic projects, covering both projects within and outside the NBM program. The new go-live for the Nordic mFRR EAM is planned for 1 October-15 November 2023 and the TSOs are reviewing the impact on other milestones on the NBM roadmap at the moment. The aim is to present the results in the next reference group meeting as well as in the NBM web.  

TSOs will get back with an updated Nordic mFRR EAM implementation guide. 

The implementation of 15 minutes ISP is going to differ in the Nordic countries. eSett will perform the settlement with 15 minutes resolution from 22 May 2023. Denmark and Finland will provide 15 minutes metering data. However, Sweden and Norway will stay in 60 minutes until the national regulatory prerequisites and infrastructure (metering, data hub) is in place. Prior to the shift to 15 minutes imbalance prices, scheduled after go-live of mFRR EAM, Sweden and Norway will report 15 minutes metering data. Meanwhile, eSett will convert the hourly values to quarterly values by dividing 60 minutes data into four.  

EPEX SPOT and Nord Pool presented their plans and perspectives of the transformation to the 15-minute markets. Both NEMOs (nominated electricity market operator) confirmed that they are ready for 15-minute products as soon as it is possible in the Nordic TSO systems. The 15-minute granularity is seen as an important step for the electricity market as it will bring more liquidity and robust marketplaces. They also stated that cooperation between all parties is the key for a successful transition from 60 to 15-minute granularity for trading. 

In the end of the meeting Nordic regulators and TSOs summarized the progress of the NRA processes. The current topic is the aFRR capacity market mark-up methodology.  The TSOs plan is to send an amendment methodology as well as an explanatory document for public consultation during April 2022 and submit the amendment methodology to the NRAs at the latest June 2022.