Glossary

Process where the difference between planned and actual power exchange is reconciled - essential for the power market to function.

Financial settlement between BRPs and the system operator for energy imbalances in a given period.

The degree of accuracy, completeness and reliability in a dataset - critical for correct billing and balance settlement in the power sector.

The company performing imbalance settlement for balance responsible parties across the Nordics, jointly owned by the four transmission system operators.

Rules and framework that govern the functioning of the electricity market - covers pricing, settlement and competition.

Data from electricity meters - the foundation for billing, balance settlement and market processes in the power market.

One measurement from one metering point for one period of time. The building block all settlement rests on.

Simplified scheme for households and small businesses with solar panels up to 100 kW - the grid company handles settlement for surplus production.

Predictions of future electricity production and consumption - essential for grid planning, balance settlement and market participation.

Settlement against an assumed consumption curve instead of actual hourly readings. The counterpart to hourly settlement.

Balance settlement and metering values at 15-minute resolution instead of hourly. Introduced in Elhub on 22 January 2024.

The Ediel message family covering metering data and settlement. Where the E-messages handle customer and grid processes, the RSM messages carry the actual meter values.

Turning metering data into money. Consumption and production per metering point become what each party owes or is owed.

Location in the electricity network where consumption or production is measured and settled - equivalent to what Elhub calls a metering point.