Electricity market
Finding a balance
The Balance Management Unit at Fingrid’s main grid control centre is
responsible for keeping the power system of Finland in balance in real time.
8.4.2024
The Balance Management Unit at Fingrid’s main grid control centre is
responsible for keeping the power system of Finland in balance in real time.
The energy transition is leading to a huge increase in the need for power system reserves.
As much electricity must be produced as is consumed at any given moment. It is a simple equation, but the solution is complex.
The power system needs reserves to keep electricity production and consumption balanced every hour of the day and maintain a stable grid frequency. Fingrid hopes new players will join the electricity reserve markets – now, getting involved is easier than ever.
In order to maintain system security, it is vital to incorporate new and existing forms of flexibility in electricity production, storage and consumption into the reserve markets.
The increase in wind power production is putting the power
system to the test. In the future, the grid will need solutions to ensure
stability and more transmission line connections.
The need for reserves to ensure the continuous power balance of the electricity system will increase considerably in the coming years with the reform of the electricity system. At the same time, the costs of procuring reserves will increase at Fingrid. Fingrid procures reserves in as market-based a way as possible from several different sources in Finland and its adjacent neighbours, which contributes to ensuring the adequacy and cost level of reserves.
The Nordic Balancing Model is an enormous, multi-year development program that is being conducted on a national and pan-Nordic level. The project will have a major impact on Fingrid, as well as all electricity market parties.
Reserve markets are undergoing a transformation thanks to Nordic collaboration on balance management.
Fingrid Oyj
Läkkisepäntie 21
00620 Helsinki
Tel. 030 395 5267
Fingrid.fi
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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.