Bilateral trade with 15-minute resolution from 29.05.2024 in Norway

Statnett has together with the imbalance settlement customer committee decided that bilateral trade shall have quarterly resolution from and including Wednesday 29 May 2024. This date has been chosen because it is in a week without public holidays and that a Wednesday provides for both preparation and correction being carried out on working days.

The reported values by the two counterparts must match; if the values do not match the imbalance settlement system corrects the values according to pre-defined correction rules and sends notification to both parties involved. It is possible that only one BRP submits the bilateral trade, the correction rules (matching) will then be applied.

The correction rules are the following (in case of values not matching):

• If both BRPs report a sale, zero will be used
• If both BRPs report a purchase, zero will be used
• If one BRP reports sale and the other reports purchase, the lowest absolute value per ISP will be used (zero is considered as a number)
• If only one of the BRPs have reported values, those values will be used

If an error occurs when reporting bilateral trade, we remind you that the balance responsible parties have until midnight the following working day to override the correction rules and instead accept the counterparty’s values.

The change to 15-minute resolution for bilateral trade was first communicated in eSett’s newsletter 21.12.2023. Please contact eSett’s customer service in case you have any questions regarding the change.