“We’re very happy that an agreement has been reached so that we can continue the strong Nordic cooperation that characterises the energy sector in our countries. This agreement is a major step towards developing an efficient energy market that ensures security of supply,” say the CEOs in a joint statement.
The changing power system involves more intermittent renewable power generation and changes in consumption patterns. This means that there is a need for more flexibility and better control of imbalances. The new Nordic balancing model ensures this.
The cooperation agreement outlines the roles and responsibilities of the TSOs. It commits the five Nordic TSOs to a common roadmap for implementing the new balancing concept and common balancing markets. The agreement also describes a path for developing new market platforms to support common markets and tasks in the new balancing structure.
“Ensuring value creation and security of supply is vital to the missions in our respective countries and across the Nordic area. We are committed to ensuring the functionality of Nordic cooperation, and we found solutions that benefit all the parties,” emphasise the TSOs.
The five Nordic TSOs in the agreement are:
Fingrid, Svenska kraftnät, Statnett, Energinet and Kraftnät Åland.
The Nordic balancing concept and roadmap includes the following milestones:
• Common Nordic capacity market for aFRR (Q2, 2019)
• Common Nordic capacity market for mFRR (Q4, 2019)
• Introduction of 15-minute imbalance settlement (ISP) (Q2, 2020)
• Common Nordic energy market for aFRR (Q1, 2021)
• Nordic modernised ACE balancing in full use (Q1, 2021)
