Successful 15-minute ISP go-live

Successful 15-minute ISP go-live

An important step forward

On 22 May, a major milestone was reached in the Nordic electricity markets as eSett moved to 15-minute imbalance settlement. From 22 May, the common Nordic imbalance settlement, eSett, has settled Nordic balance-responsible parties (BRPs) with 15-minute resolution. However, imbalance price and mFRR activation prices will still have 60-minute resolution. This milestone forms the basis for the upcoming introduction of 15-minute imbalance pricing and 15-minute market time units in Intraday and Day-ahead trading, which will follow the introduction of an automated balancing process.

Finland and Denmark first ones out

The Nordic Distribution System Operators (DSOs) are changing the resolution of energy metering from 60 to 15 minutes, depending on national legislation. In Finland and Denmark, 15-minute energy metering was introduced this spring, while Sweden and Norway will move to 15-minute resolution during 2023 and 2024.

15-minute intraday trading within the bidding zones in Finland, Sweden, and Denmark has been possible since 22 May 2023.

Status in each Nordic country

Finland: The imbalance settlement period was moved to 15-minute resolution on 22 May when eSett transitioned to 15-minute settlement. According to national Finnish legislation, energy metering will gradually move to 15-minute resolution in the period 2023-2028. Major production, consumption, and exchange metering as well as remotely programmable metering transitioned to 15-minute resolution on 22 May.

Denmark: The imbalance settlement period was moved to 15-minute resolution on 22 May when eSett introduced 15-minute settlement. DataHub was upgraded this spring to handle the required 15-minute data. From the beginning of the transition, almost all production and exchange have been reported using 15-minute resolution and more than 50% of all energy consumption is also reported with 15-minute resolution.

Sweden: From 22 May to 1 November, reporting to eSett will continue with  hourly resolution. The updated Swedish metering regulation takes effect on 1 November 2023 when metering and reporting of non-monthly metered consumption will be done with 15-minute resolution. From 1 January 2025, all meters are required to be able to register data with 15-minute resolution. 15-minute reporting will also apply to bilateral trades in Sweden as of the delivery day 1 November.

Norway: Settlement data for Norway will continue to be reported to eSett with a 60-minute resolution after 22 May 2023. Statnett will, at a later stage, provide more information on how the transition to reporting with 15-minute resolution will be handled.

From 18 September 2023, Elhub will introduce a version that allows for the receipt of metering data with 15-minute resolution. This functionality will be utilized by DSOs at a later stage, depending on upcoming changes to Norwegian regulation.