We are moving towards a green, integrated and harmonised European power market. This calls for a new model for balancing the Nordic power system. To achieve this, the Nordic TSOs have established the Nordic Balancing Model cooperation. Our new Nordic balancing model will ensure an efficient security of supply and secure a balancing scheme compliant with the European network codes. The NBM Roadmap is our high-level plan for the program, illustrating the specific building blocks of the new balancing model.
The Roadmap presents key milestones for each building block. Progress in line with the Roadmap is monitored and reported to stakeholders.
Updates of the roadmap 29 June 2022:
Introduction of 15-minute imbalance prices as well as 15-minute market time unit (MTU) for Intraday Continuous trading with cross border exchange is planned for April/May 2024.
The 15-min ISP go-live with 60 min imbalance prices in Q2 2023 remains (renamed to 15-min ISP/60). At this point in time, resolution of the settled imbalances is 15-min and eSett has a 15 min resolution of all data (metering data, trades, prices) in their database and systems. However, eSett is able to receive 60 min values (which are divided by four). mFRR activation- and imbalance prices still have 60 min resolution.
The aim for accession to MARI and PICASSO is still within the legal deadline Q2 2024 despite the delay of mFRR EAM. There are significant risks in the implementation timeline.
The go-live of aFRR capacity market Q4 2022 is dependent on a successful go-live of flow-based. The go-live date will be evaluated and communicated early autumn.