Definition
A Balance Responsible Party (BRP) is a market participant that is responsible to the system operator (StatnettNorway's system operator for the transmission grid - owns and operates the high-voltage network and operates Elhub.) for ensuring that production and consumption within its portfolio are in balance. Electricity suppliers and producers are typically BRPs. Imbalances are settled financially based on actual deviations measured in the market. The BRP role is central to the Nordic electricity market (Nord PoolNordic electricity exchange where power is traded in the wholesale market - the basis for electricity prices in Norway and the Nordic region.).