The Northern Clearing Concept and roadmap include, among other steps: common northern capacity market for a common northern capacity market for MFPR (Q4, 2019) Implementation of a system of 15 counter-forces (FSI) (Q2, 2020) Nordic modernized European compensation (Q1, 2021) it obliges the five Nordic GRTs to follow a common roadmap for the implementation of the new approach to balance and common balancing markets. In addition, the agreement outlines the way forward in developing new market platforms to support common markets and the tasks of the new clearing structure. eSett Oy, in collaboration with Energinet, Fingrid, Statnett and Svenska Kraftnat, has created a model for the imbalance resolution agreement between eSett and each balanced party (BRP). The agreement must be signed by each party until eSett assumes operational responsibility for the imbalance compensation and billing scheme for market participants in Denmark, Finland, Norway and Sweden. The agreement model is available below and has been sent to the balance parties. The parties responsible for New Balance can apply for eSett`s agreement. The evolution of the energy system is leading to more temporary electricity generation from renewable energy sources and changes in consumption patterns. This means more flexibility and better control of imbalances. This is what the new Nordic balancing model is doing. To be approved as a manager, it is necessary for the company to provide proof of financial stability.
In addition, financial guarantees must be declared as security with respect to the level of risk and the extent of compensation of the responsible parties. Learn more on eSett: s (new window). We are very pleased that an agreement has been reached and that we can resume the strong Nordic cooperation, which is a hallmark of the energy sector in the Nordic countries. The agreement is an important step in the development of an efficient electricity market that guarantees security of supply, the CEOs said in a joint statement. The agreement paved the way for the joint consultation on a common Nordic LFC block, launched on Friday. The consultation is available here. The five Nordic GRTs of the agreement are: Svenska kraftnat, Kraftn-t Éland, Statnett, Fingrid and Energinet. You apply as a balance provider by contacting e-Mail eSett Oy: firstname.lastname@example.org – The guarantee of added value and security of supply is of the utmost importance for our missions in our respective countries and throughout the Nordic area. That is why this agreement is urgent and welcome.
We are firmly committed to Nordic cooperation and are pleased to have been able to find solutions acceptable to all parties, the GRTs stress.