Another annual NordREG Wholesale and Transmission Developments Seminar, which the Finnish Regulator, Energiavirasto hosted Wednesday 30th of October in Helsinki, has been concluded and provided us with insightful presentations and discussions.

Kicking off the event, Director Antti Paananen, from the Finnish Energy Authority, which holds the current chairmanship of NordREG, extended a warm welcome to the participants and speakers. Antti highlighted NordREG’s mission and vision as an organization, as well as how the market mechanisms need to adapt to an energy system that is becoming increasingly integrated and complex.

The seminar was initiated with an update from the NordREG electricity balancing and capacity task forces on the latest regulatory developments. Speakers from the Swedish Energy Markets Inspectorate, ACER, Finnish Energy, Green Power Denmark, Fingrid, Energinet, and Fortum continued the seminar by providing insightful perspectives on various topics, which are important in contributing to well-functioning future Nordics markets. Some recurring topics surrounded current and future developments as well as the challenges and opportunities that comes with it, in which the speakers offered both interesting and illuminating insights.

The seminar was concluded with a thorough summary made by Director Antti Paananen from the Finnish Energy Authority, who also took the opportunity to hand over the baton to the Norwegian Energy Regulatory Authority, which is poised to take over the chairmanship for the NordREG Presidency in 2025. He expressed gratitude to all presenters and participants, emphasizing their shared commitment to key topics surrounding wholesale and transmission developments in the electricity markets.

NordREG would also like to extend a heartfelt thank you to all presenters and participants for their valuable contributions. We are looking forward to our continued collaboration and progress.

The agenda and presentations can be found below:

Agenda seminar October 30th 2024

NordREG Wholesale and Transmission Seminar 2024

Once a year NordREG arranges a seminar on Wholesale and Transmission Developments. This year the seminar will be held physically as well as remotely on 30th of October 2024 at 10:00 – 16:45 EET.

The Agenda is now available: Agenda seminar October 30th 2024.

It is still possible to register for the webinar. Registration closes on October 21st.

The purpose of the seminar is to inform market participants, by providing regulatory input and oversight, in current topics handled by NordREG as well as provide insights on topics related to current market developments.

Some of the topics that will be presented:

• Flow-based capacity calculation and allocation
• Capacity mechanisms
• Reserve and balancing markets – wind power experiences
• PICASSO and aFRR
• Revision of the Forward Capacity Calculation (FCA) Regulation

Nordic transmission system operators as well as market participants and other stakeholders will be presenting at the seminar. We also look forward to receiving input from the audience during the seminar.

On July 1st NordREG jointly sent a letter to Nordic TSOs where we raised our concerns related to the intraday solution (the ATCE) which will be implemented at the same time as flow-based on the day-ahead. The questions related to the ID capacities themselves and arbitrage possibilities. In the letter the TSOs were requested to deliver a report within three months. You can read the full letter: NordREG Letter to Nordic TSOs on ID ATCE

On the 30th of September we received the Nordic TSOs report. Read the full report: Nordic TSO response to NordREGs Letter to Nordic CCR TSOs Concerning Flow-Based implementation and ID ATCE

NordREG has reviewed the report and concludes that there are still some remaining concerns that should be duly considered by the TSOs ahead of go-live. Read the full letter: NordREG letter regarding TSOs ID report.

NordREG invites you to join us for the annual NordREG Seminar on Wholesale and Transmission Developments. This year’s chairmanship has been held by the Finnish Energy Authority (EV) who will be the hosts of the seminar.

This year, the seminar will start with giving presentations on updates on regulatory processes from the chairs of the NordREG task forces on electricity balancing and capacity. Hereafter the focus will be on well-functioning future Nordic markets, with presentations on topics such as flow-based, PICASSO and the connection process, mFRR EAM and other relevant topics. The presentations will be held by the Nordic TSOs as well as other market actors.

Registration

Please register at the following e-mail address: nordreg@energiavirasto.fi stating your full name, affiliation, and mark your email: “NordREG Seminar”.

Note that the seminar will be a hybrid event where participants can attend remotely or physically. Physical attendance is limited to 100 participants in total, please indicate you will participate physically. Links will be sent out to the registered email addresses prior to the seminar.

If you wish to attend the seminar you are kindly requested to register as soon as possible and no later than the 21st of October 2024. The registration is on a first come, first serve basis.

When

The 30th of October from 10:00 – 17:00, lunch will preliminary be served at 12:00.

Where

The seminar will be held at Lintulahdenkuja 4, Helsinki.

We hope to see you in October!

The Nordic national regulatory authorities from EV, Ei and DUR (“The NRAs”) are launching a consultation on the methodologies for a trilateral mFRR capacity market among Denmark, Finland and Sweden.

The methodologies have been developed by the Nordic TSOs Energinet, Fingrid and Svenska kraftnät in accordance with Article 33 and 38 of Commission Regulation (EU) 2017/2195 of 23 November 2017 establishing a guideline on electricity balancing (“EB Regulation”).

Based on the NRAs request for amendment Energinet, Fingrid and Svenska kraftnät came up with amended methodologies on 28 August 2024 (received by the last NRA). This consultation concerns the amended methodologies.

The NRAs welcome written input on the methodologies at the latest 26th September 2024.

• Link to the consulted documents and further information.

Each year NordREG arranges a joint seminar on wholesale and transmission developments. This year the seminar will be held physically in Helsinki, Finland on the 30th of October 2024.

The purpose of the seminar is to inform market participants, by providing regulatory input and oversight, in current topics handled by NordREG as well as encouraging discussions on topics related to the current market developments.

NordREG aims at having the Nordic transmission system operators as well as market participants and other stakeholders as presenters and panelists at the seminar.

We expect to publish a registration form later with more information about specific time and agenda and hope that you will already now save the date for the event.

We look forward to meeting you in Helsinki.

Based on NordREG’s first oversight of the RCC, NordREG publishes an annual oversight report of 2023. A taskforce under NordREG is required to supervise and perform a yearly oversight of the RCC as a whole. As the RCC is still a new organization under development, focus of the annual oversight 2023 has solely been on the RCC’s Annual Report 2022. 

The RCC’s Annual Report 2022 is the first annual report presented by the RCC since it was established. The NordREG annual oversight is furthermore the first NordREG annual oversight of the RCC.

The RCC published their Annual Report 2022 on 14 April 2023, which covers the period 6 December 2021 to 31 December 2022. The publishing of the annual report is a requirement according to EU-regulation for the internal market for electricity.

The RCC taskforce – established in June 2023 – under NordREG, performs ongoing supervision of the RCC. According to relevant EU-regulation, the taskforce is required to arrange for a yearly oversight of the RCC. This year, focus has solely been on the RCC’s Annual Report 2022.

The RCC is a new organization, established in July 2022, under development with many new and complex tasks besides taking over the work of the now closed RSC.

The RCC Annual Report 2022 mainly covers the RCC’s key services and a general financial statement. The taskforce considers the RCC Annual Report 2022 as a relevant and informative introduction to the RCC’s tasks and the taskforce found no reason to make any annotations on the reporting.

The taskforce will continue the supervision work with the RCC and will continuously have a dialogue with the RCC on relevant topics. Furthermore, the taskforce will, as relevant, request the RCC to provide updates on the effectiveness and efficiency of ongoing and future tasks etc.

• Annual oversight of NRCC 2023

NordREG has published the Annual Report 2023 and the Work Program 2024.

For more than two decades NordREG has provided a constructive platform for cooperation between the Nordic energy regulators. The ambitious climate goals and more insecure energy supplies are pushing the need for changes in the electricity markets.

NordREG plays a vital role in the development of the Nordic electricity markets while ensuring a proper and effective implementation and compliance with the EU-regulation.

The annual report 2023 and the work program 2024 describes the work that NordREG has and will undertake in order to deliver these goals.

NordREG Annual Report 2023

The year of 2023 was characterized by more stable energy supply and prices across Europe. NordREG has continued the cooperation that aims to promote and develop efficient electricity markets in the areas of retail, wholesale and transmission, network regulation and demand side flexibility.

• Read more about the work carried out during 2023: NordREG Annual Report 2023

NordREG Work Program 2024

The Work Program describes the tasks and activities for the upcoming year where the continued implementation of the Clean Energy Package, network codes and guidelines remains important.

Further, NordREG’s work will focus on the implementation of the expected changes in EU-regulation regarding the electricity and gas markets and the new regulatory tasks stemming from the Energy Efficiency Directive.

We will also continue the cooperation regarding the Nordic end-user market as well as increased focus in the area of flexibility.

• Read more about the upcoming work in 2024: NordREG Work Program 2024

Changes in the regulation of invoices and how the lack of transparency affects electricity users, and the market was discussed when participants from the Nordic Energy Regulators (NRAs) met in Helsinki to exchange experiences.

The Danish, Finnish, Norwegian and Swedish NRAs all recognise that the high energy prices of the last two years have affected the retail electricity market in many ways, which for example, manifests itself in a greater variety of contract types and separate national electricity compensation schemes. According to the participants in the workshop, clearer invoices in combination with more transparent price information are of great importance to the customers. How information is communicated to customers was also recognised as a key factor.

The participants from the Nordic NRAs in the 6th Annual Monitoring Workshop arranged by NordREG, also shared their experience from national monitoring cases, compared possible remedial actions and learned from each other´s experiences. Among other things the participants discussed the challenges involved in monitoring suppliers who are reluctant or unwilling to co-operate with the regulators as well as market players who are either not covered by current legislation or new to the market. Companies that go bankrupt after only a short time on the market and then re-emerge in a different form were also discussed.

Furthermore, the price comparison tools and the possibility of automatic checks with the help of robots, were also an interesting and topic of the lively discussion.

Another enriching day of insightful presentations and discussions at the yearly NordREG Wholesale and Transmission Developments Seminar, which the Danish Utility Regulator, Forsyningstilsynet, hosted Thursday 23rd  of November at the Hotel Park Inn by Radisson, Copenhagen Airport.

Kicking off the event, Director Birgitta Bundgaard from the Danish Utility Regulator, which holds the current chairmanship of NordREG extended a warm welcome to the participants and speakers. Birgitta highlighted NordREG’s significant efforts throughout 2023, including collaborative work on a paper outlining NordREG’s positions on the European Commission’s proposed reforms for the electricity market.

The day unfolded with presentations updating us on regulatory processes by various NordREG task forces. Under the theme “well-functioning future Nordic markets,” speakers from ACER, EEX, Nord Pool, Nordic TSOs, and Green Power Denmark then shared their insightful perspectives. A recurring topic was the forward market, with speakers offering interesting and fruitful insights on how to enhance its functionality.

The seminar was concluded with a thorough summary made by Director Antti Paananen from the Finnish Utility Regulator, which is poised to take over the chairmanship for the NordREG Presidency in 2024. He expressed gratitude to all presenters and participants, emphasizing their shared commitment to key topics surrounding wholesale and transmission developments in the electricity markets.

NordREG would also like to extend a heartfelt thank you to all presenters and participants for valuable contributions. We are looking forward to our continued collaboration and progress.

The agenda and presentations can be found below:

1. Agenda NordREG W&T Seminar 2023

2. NordREG presentation

3. ACER presentation

4. EEX presentation

5. NordPool presentation

6. Nordic TSOs presentation

7. Green Power Denmark presentation