ELEC-E8423 - Smart Grid Power markets in Nordic Countries: Day ahead market and intra-day balancing Terhi Säynätjoki 27.02.2018

Introduction Finland is a part of the Nordic and Baltic wholesale electricity markets The market operates on mostly a day-ahead schedule Adjustments can be made in a smaller time scale too 27.02.2018

Nordic markets The electricity systems of the countries are interconnected, which allows transmission across country borders Source: https://www.researchgate.net/figure/Map-of-the-Scandinavian- 400kV-power-grid-Transmission-lines-are-approximated-by_fig7_286876880 27.02.2018

Electricity market operators Electricity producers Electricity traders Electricity retailers Transmission system operators Consumers Energy-intensive industry Laws and policies 27.02.2018

Day ahead markets, ELSPOT Price determined by the balance between supply and demand, called spot market Traders make bids for supply and demand for electricity for individual hours of the next day The spot where supply and demand meet is the electricity price for that hour Most of the electricity is sold this way Source: https://www.wind-energy-the-facts.org/power-markets.html 27.02.2018

Intra-day balancing Intra-day markets are used to balance the differences between estimations of the electricity supply and demand in the day ahead market and the estimations made on the day of supply Operates on the day the electricity is supplied to the grid ELBAS operates until 1 hour before the electricity is supplied to the grid Additionally real-time markets balance the remaining imbalance 27.02.2018

Conclusions Electricity systems in Nordic Countries are interconnected The Nordic Power markets operate mostly in day ahead spot market (ELSPOT) that determines the price by balancing supply and demand Errors in the day ahead market can be compensated in intra-day balancing (ELBAS) Thank you! 27.02.2018

Source material used Lehtonen, M. Advanced Power Engineering, Chapter 42. https://www.energiavirasto.fi/web/energy-authority/nordic-electricity-m arket Accessed 26.2.2018 https://www.nordpoolgroup.com/ Accessed 26.2.2018 Laakso, J. Sähkön sisämarkkinoiden nykytila, haasteet ja tulevaisuus Euroopassa. Kandidaatintyö. Aalto-yliopisto, Insinööritieteiden korkeakoulu, 2017. 27.02.2018