15 min Imbalance Settlement Period
What: Today, the imbalance settlement period in the Nordics is 60 minutes. From 22 May 2023 the common Nordic imbalance settlement, eSett, will settle Nordic balance responsible parties (BRPs) with 15 min resolution. The remaining steps, such as 15 min imbalance price and 15 min cross border trading in Intraday, will be implemented in Q2 2024.
How: The Nordic DSOs will change the granularity of meters, dependent on national legislation, from 60 to 15 minutes. eSett will settle the quarterly imbalances between planned and actual consumption/production of the balance responsible parties (BRPs). Except for in Norway, 15 min intraday trading within the bidding zones will be possible for the NEMOs to implement from 22 May 2023. The imbalance price will remain in hourly resolution until Q2 2024 when the mFRR energy activation market switches to a quarterly marginal price and thus enabling a quarterly imbalance price in the imbalance settlement. At the same time cross border intraday trade with 15 min resolution will be implemented.
Why: While production and consumption plans derived from the energy markets are flat within each market time unit (MTU), consumption continuously changes. Production changes more instantaneously from one MTU to the next. This leads to structural imbalances that the TSOs must handle. Moving to 15-minute MTU and ISP reduces these imbalances.
- Successful 15-minute ISP go-live May 26, 2023
- Presentations and link to recorded webinar on Nordic TSOs 15 min imbalance settlement period June 9, 2021
- 15 min Imbalance Settlement Period webinar, hosted by Nordic TSOs May 7, 2021
- Go-live date for 15-minute imbalance settlement period has been confirmed: 22.05.2023 March 17, 2021
- Nordic Roadmap updated – 15 min ISP unchanged December 21, 2020
- Nordic TSOs: 15 minutes balancing period from 22 May 2023 May 27, 2020
- The Nordic TSOs confirm the need for longer implementation time of 15 minutes imbalance settlement period April 26, 2019
- Risk of delay in the implementation of 15 min imbalance settlement period in the Nordics March 14, 2019
- NORDIC TSOS: 15 MINUTE IMBALANCE SETTLEMENT BY 2020 September 28, 2018