Before and into real time, balancing services to keep the transmission system balanced. This ensures that energy supply always meets demand.
How it works
The Balancing Market (BM) reflects actions taken by the TSO to keep the system balanced. For example, differences between the market schedule and actual system demand. It determines the imbalance settlement price for settlement of these balancing actions. This includes any uninstructed deviations from a participant’s notified ex ante position.
Energy balancing services
Energy balancing services are offered into the Balancing Market by generators and suppliers. The TSO then determine the use of these services. For example, they might instruct a generator to increase its output to meet demand. The generator is then paid through the BM for the extra energy used to balance the grid.
The TSO can also call on non-energy balancing services. These might include voltage regulation or energy reserves. A participant’s net energy position is the accumulated volume of its trades in the ex ante markets and any balancing actions.
Market timeline
The BM trading day is divided into 48 (30-minute) imbalance settlement periods. These align with the IDM trading periods. Within each imbalance settlement period there are six (5-minute) imbalance pricing periods.
The submission window for market data opens 19 days ahead of the trading day (D-19). It closes 1 hour before the start of each 30-minute imbalance settlement period (t-1).
Who can participate
Participation is mandatory for generators with an export capacity above the minimum threshold. It is voluntary for dispatchable generators below that threshold, 10 MW.
| Role | Description | Markets |
|---|---|---|
| Generator | Generators supply energy to the grid. | All |
| Supplier | Suppliers take energy from the grid for consumption. | All |
| Assetless Trader | Assetless Traders take positions in the ex-ante markets but have no physical assets. | BM, DAM and IDM |
| Interconnector |
Interconnectors offer capacity in the Capacity Market (CM) and Financial Transmission Rights (FTRs) in FTR auctions. They do not trade energy in markets but they can have exposure in settlement of the BM for differences between dispatched and delivered positions.
|
CM, BM, FTR auctions |
| Capacity Market Unit (CMU) | Interconnectors and large generators are represented in the Capacity Market as CMUs. Small or intermittent generators can be aggregated. | CM |