Increasing trade accuracy and detail in the European Electricity Market, both in electricity stock exchanges and balance markets from October 1, will move from 60 minutes to 15 minutes, LETA informs the electricity transmission system operator (PSO) JSC “Augst Voltage Network” (AST).
In order to ensure a wide range of renewable energy generation and to introduce wider competition, both by expanding the market geographically and the introduction of new types of services, the European PSO and the electricity stock exchange have been working on the development of the electricity market model for several years. One of the changes is the increase in trade accuracy and detail, which is achieved by the transition from 60 minutes to the 15 -minute trade on both electricity stock exchanges and balancing markets. In this process, the next step is the transition to the 15 -minute trading period of electricity on the next day on the market throughout Europe, which will take place on September 30 with the first day of electricity supply in the new mode on October 1.
As the AST explains, since the liberalization of the electricity market, which began in Europe 30 years ago, wholesale and retail of electricity and retail, attracting the price of changing the price of the stock exchange, takes 60 minutes. Electricity meters have also recorded consumption for 60 minutes so far, so that consumers and manufacturers can pay for the prices that are determined by the electricity stock exchange for each day.
AST representatives confirm that Latvia is ready for the transition to a 15 -minute trading period for the next day’s market, which will allow market participants to predict and plan their production and consumption more accurately and use market opportunities.
Gatis Junghans, Member of the Board of the Company, points out that the electricity market model is the main tool by which the transmission system operator coordinates the power system. In the energy system, with the increasing entry of solar and wind power plants, batteries and active consumers, the energy system requires higher accuracy and better predictability. As Junghan explains, the transition to a 15 -minute trade provides it, as well as promoting economic interest in market participants to develop their ability to respond flexibly to market price changes, thus gaining economic benefits for themselves while participating in the balancing of the energy system.
Along with changes in electricity on the next day, the Baltic Balancing Power Market is also introduced in the 15 -minute trading period. This change will allow the Baltic PSO to plan and purchase the balancing capacity reserves more precisely, as well as to book the power system for balancing the power system. Balancing capacity market participants, especially those whose portfolio has renewable energy or high flexibility resources, will provide the ability to offer power maintenance for shorter periods and to more accurately plan the power provision periods.
This transition is part of the broader integration of the European energy market, which aims to provide uniform principles and more efficient trade in all Member States. A shorter trading interval will allow you to better coordinate electricity flows in the single market, more accurately reconciling the supply and demand, and improving the use of cross -border connections. A single approach in all countries is an important prerequisite for the European energy system to become more flexible and safer.
AST also explains that the shorter trading period contributes to the development of flexible resources and will contribute to the efficiency of balancing the electricity system. In addition, market prices, through a shorter trading period, better reflect the real offer and demand – the less time the unit is, the more precisely the market participants need to determine the volumes, and the more accurately the prices are set. The transition to a 15 -minute trading interval for traders means the need for higher forecasting accuracy, electricity planning and marketing in four shorter stages every hour. This includes customization of internal IT systems to support the processing, trade and accounting of 15 -minute data.
In order to ensure the readiness of all participants for a unified 15 -minute transition in all countries involved, the nominated electricity market operators (NEO) and PSOs have carried out system and process improvement and performance tests, as well as testing the readiness of market participants. The transition of the Baltic Electricity Market and the Baltic Oblast of the Nord Pool to a 15 -minute electricity accounting and trading period means that the electricity consumption data and the price of electricity exchange for customers will be visible not hours, as it has been so far, but at a 15 -minute interval. These changes will allow you to keep track of consumption in more detail and changes in the price of electricity. At the same time, the average hour price will continue.
By switching to a 15 -minute trade, system operators will also gradually introduce power accounting in 15 minutes. AST customers have already introduced a 15 -minute electricity record. The distribution system operators will do so gradually.
In order to prepare for the change and to ensure 15 minutes, the distribution system operator JSC “Sadales tīkls”, which records electricity of about 800,000 customers more than one million objects, has been conducting a planned smart accounting infrastructure and IT system adjustment since autumn last year.
Initially, during the transitional period, “Distribution Network” customers will be shown in the arithmetic 15 -minute division, namely the kilowatt -hours (kWh) listed within the hour, will be divided into four equal parts. The actual 15 -minute consumption data will be available in the next year, when the entire accounting infrastructure is fully adapted, while providing the new data distribution to all customers at the same time. There is also such an approach in other countries, such as Lithuania and Estonia.
The transition will take place automated, maintaining continuous power supply and data accounting, and customers will not notice the technical process of this process. As before, the data will be available on the portals of electricity traders in an hour and 15 minutes and will be available on the “Distribution Network” customer portal “e-st.lv”.
In parallel, work on the Step data platform is also carried out, adjusting it to four times the amount of data. Electricity traders and other market participants are also actively involved in the preparation, which adjust their systems and services for changes.
The audited turnover of the AST concern last year was EUR 258.607 million, which was 5.3% more than in 2023, while the Group’s profit increased 2.2 times to EUR 22.672 million. The AST parent’s turnover, on the other hand, decreased by 2.5% last year to EUR 154.011 million, while the company’s profit increased by 31.6% to EUR 14.764 million.
AST is an independent operator of the Latvian electricity transmission system. AST belongs to the state. Company bonds quote “Nasdaq Riga” on the list of debt securities.
AST is the largest shareholder of the single natural gas transmission and storage system operator “Conexus” – the company owns 68.46% of the shares of “Conexus”.
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