The reform aims to reduce consumers’ exposure to fossil fuel price spikes, to accelerate investments in renewable energy sources (RES), and flexibility resources, and to enhance prevention of market manipulation.
When a cross-border interconnector is disrupted, Fingrid has several means to guarantee the previously made trades are delivered, as the interconnector is not capable of transmitting all the electricity traded on the electricity markets.
The electricity market is not broken. Instead, it continues to function as expected, despite the ongoing energy crisis.
As the electricity system evolves and becomes the core of the entire energy system, the market must develop in line with new needs.
A startup named Kapacity.io is conducting an EU project in collaboration with Fingrid. Kapacity’s customers are buildings that use heat pumps, and Kapacity offers them the chance of saving money on their electricity bills.
Society is going through a vast electrification process that is shaping life as we know it. For TSOs, this poses a lot of challenges: massive changes in the industry are
necessary in order to enable full electrification.
Although some time has passed since the market was opened up, many transmission system operators still lack clarity as to their role in the electricity market. Fingrid endeavours to provide 100 per cent of its transmission capacity to the market.
The Nordic electricity market demands a new form of collaboration and foresight in order to overcome the challenges of tomorrow, says Fortum’s Simon-Erik Ollus.
Fingrid’s Main Grid Control Centre in Helsinki works all hours of the day to ensure that every village, town and city in Finland has enough electricity. The control centre handles routine tasks, as well as unplanned tasks when a swift reaction is needed to prevent disturbances in the availability of electricity. Some disturbances also affect the intra-day electricity price.
It is a Monday morning, and a call comes in from the main grid control centre. Over the weekend, the Swedish transmission system operator Svenska kraftnät (Svk) began limiting the transmission of electricity from Finland to Central Sweden. I recalled a moment last summer when Svk was forced to limit the transmission of electricity from Norway, leading to confusion in the electricity markets – surely history will not repeat itself on the border between Finland and Sweden…?
Fingrid Oyj
Läkkisepäntie 21
00620 Helsinki
Tel. 030 395 5267
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Fingrid is Finland’s transmission system operator. We secure reliable electricity cost effectively for our customers and society, and shape the clean, market-oriented power system of the future.
