15 min Imbalance Settlement Period
What: Today, the imbalance settlement period in the Nordics is 60 minutes. In Q2 2023, we will move to a 15-minute imbalance settlement period (ISP). At the same time, the market time unit (MTU) in the intraday and balancing markets will be 15 minutes as well.
How: The Nordic DSOs will change the granularity of at least a minimum of meters (production, exchange between meter grid areas and large consumption) from 60 to 15 minutes. The remaining meter values will be profiled in the national datahubs or at the TSOs before they are sent to the common Nordic imbalance settlement, eSett. eSett settle the quarterly imbalances between planned and actual consumption/production of the balance responsible parties (BRPs). The MTU in intraday markets will switch to 15 minutes to enable BRPs to trade away their imbalances from the day-ahead market with a 60-minute MTU. TSO balancing markets will switch to 15-minute MTU as the TSOs need to balance quarterly imbalances.
Why: While production and consumption plans derived from the energy markets are flat within each MTU, consumption continuously changes. That must be matched by the TSOs through the balancing markets. Moving to 15-minute MTU and ISP reduces these imbalances.
- 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