Summary from NBM stakeholder reference group meeting 2 June 2022

NBM stakeholder reference group had a meeting 2 June in Copenhagen. The presentations showed the plans to reach the roadmap milestones, and the risks connected to the plan. 

The meeting began with a review of the latest update of the roadmap followed by more detailed topics. The main takeaways from the meeting were: 

  • 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-minute MTU in the Day-Ahead market as well as Intraday Auction is controlled by a common European project. There are scheduled waves for entering the 15-minute markets in Europe. 
  • 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.  
  • When entering the European MARI platform, the Nordic AOF will be used only for the fallback purposes.  
  • 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.  
  • It was also requested by the stakeholders to get an opportunity to learn more about the market design of the common Nordic mFRR capacity market as soon as possible. The TSOs are preparing the material during the summer including conducting consultation, and expect to initiate the Nordic NRA process during autumn 2022.  
  • The key elements for the future imbalance pricing were shortly presented and a draft proposal will be a topic for the future meetings. Transparency of the balancing prices raised a lively discussion and it was decided to continue the discussion later this year. 
  • The Nordic regulators (NordREG) presented the ongoing regulatory processes which are: 
    • Amended aFRR capacity market mark-up methodology 
    • MARI and PICASSO derogation
    • mFRR Capacity Market
    • Price limits for mFRR EAM 


The next meeting will be held 31 August 2022.  


Please remember the upcoming webinars –  

Invitation to national webinars for walkthrough of BSP implementation guide for mFRR capacity market, 22-24 June 2022