New Market Participants

New Balance Responsible Party

A balance responsible party (BRP) is a company that handles the balance responsibility for production and consumption units and/or trades physical power. Because this role gives access to both the day-ahead market, intraday market and the balancing market, a BRP can be active in both the electricity market and the balancing market. The balance responsible party is financially responsible for imbalances and deviations between the planned and the actual production, consumption, and trade of power. 

Here you will find the steps to either register as a new Balance Responsible Party (BRP) or to extend operations to another Nordic country. The first step is to register as a customer and fill out an application form on our website. The registration process takes around 2 – 4 weeks on average after the complete form is sent to eSett.  

  1. Register in eSett’s Customer Portal and complete the BRP application form. At the same time, you can initiate the registration process specific to your country with the TSO.  
  2. Sign the agreements
    • Imbalance settlement agreement with eSett
    • Agreement with the settlement bank and eSett
    • Balance agreement with the TSO
  3. eSett adds structures to the imbalance settlement system and operations can begin
    • Collateral must be in place at least three (3) weeks before the start. 
    • eSett will give user rights to the company’s Online Service Administrator. The Online Service Administrator is responsible for granting access and maintaining Online Service User accounts of other Users in the company that the Online Service Administrator represents.  

Further instructions in more detail are provided in the Information on how to become a BRP.

If you have any questions, we are happy to assist you. You can reach us by sending a service request or by calling +358 10 501 8500.

New Balancing Service Provider

Balancing Service Providers (BSP) are market participants which provide balancing energy or balancing capacity or both to the Transmission System Operator (TSO). BSPs, such as generators or demand facilities, balance out unforeseen fluctuations in the electricity grid by increasing or reducing their power output as requested by the TSO. Each balancing energy trade from a BSP is assigned to a Balance Responsible Party. 

The BSP model is currently under development in the NBS countries. The Nordic TSOs are gradually taking the BSP role into use or moving the invoicing of the BSPs to eSett on behalf of the TSOs. Currently the new model has been implemented only for Finnish BSPs which are operating in the mFRR and aFRR activated reserve market. From 10.2.2025 onwards Fingrid will move FCR-N energy invoicing of the BSPs to eSett. All participants acting in the FCR-N market in Finland have to be registered BSPs in eSett.

Here you will find the steps to register as a Balancing Service Provider in countries where the BSP model is currently implemented. The first step is to register as a customer and fill out an application form on our website. The registration process takes around 2 – 4 weeks on average after the complete form is sent in to eSett. 

  1. Register in eSett’s Customer Portal and complete the BSP application form. At the same time, you can initiate the registration process with the TSO.
  2. Sign the agreements
  3. eSett adds structures to the system and operations can begin.
    • eSett will give user rights to the company’s Online Service Administrator. The Online Service Administrator is responsible for granting access and maintaining Online Service User accounts of other Users in the company that the Online Service Administrator represents. 

Further instructions in more detail are provided in the Information on how to become a BSP document.

If you have any questions, we are happy to assist you. You can reach us by sending a service request or by calling +358 10 501 8500.

 

Other new market participants

In addition to the BRP and BSP roles there are other market participants with different roles and responsibilities in the electricity market. Other market participants are Retailers (RE), Distribution System Operators (DSO) and Service Providers (SP).

To register as another market participant, contact your local TSO and send the filled in “Company” template as well as templates corresponding to the individual market role(s) to eSett. The “Connection details” template needs to be filled in by those who need machine-to-machine connection for messaging purposes. Retailers will not need to provide this information as there is no possibility for retailers to provide and fetch data electronically from eSett.

Templates