Successful start for Euroflex

Original post on Euroflex website (in Norwegian)

All the members of the Euroflex consortium were present, at the Euroflex kickoff at Popsenteret in Oslo on Tuesday 19th of March 2024.

Six of Norway’s largest Distribution System Operators (DSOs), Statnett Norway’s Transmission System Operator (TSO), and the Norwegian regulatory authority NVE-RME along with platform and technology suppliers. The most important topics were the establishment, goal setting, and implementation of Euroflex.

Rune Hogga, CEO of Å Energi Fleksibilitet, describes the meeting as a milestone in the work to establish a market for flexibility trading in Norway.

“It is the first time that some of the country’s largest grid companies are sitting together with NVE-RME and Statnett and discussing joint solutions to utilise spare capacity in the grid and further develop the Norwegian power system. Through Euroflex, we have created a unique forum”, says Hogga.

Euroflex will open for trading on the NODES platform from 1. October 2024, and both Elvia and Glitre Nett have decided to open their entire license areas for trading. They alone represent an accessible market of over 1.2 million electricity customers. The five other DSOs: BKK, Tensio, Linja, Fagne and Norgesnett are also preparing themselves to test the purchase of demand flexibility to solve bottlenecks in their own grid. 25 electricity companies and technology suppliers are participating as Flexibility Service Providers selling flexibility to system operators.

“We are hitting the road running, aiming to quickly reach large trading volumes in order to provide strong signals to the market. It is important that the DSOs contribute by signaling an appetite for flexibility and are prepared to offer attractive prices in the market. Long trading periods and short breaks between these periods should ensure continuity and contribute to building liquidity”, says project manager Hege Dyngvold.

According to Dyngvold, there is a lot that needs to be put in place during the project period.

“We need a common flexibility register of available resources, network codes, and technical solutions to connect all the stakeholders in the market. A potential solution for registering baselines must be in place so that providers are ensured correct settlement. We have established working groups that focus on these areas”, says Dyngvold.

Rune Hogga is very satisfied with what was achieved at kick-off.

“It is fun to observe the great commitment among the participants. There is now a common understanding that we have to use the available capacity in the power grid to realize our NetZero targets. We have taken the steps from small-scale testing of a platform for commercial flexibility trading through the Norflex pilot to large-scale trading in Euroflex. The goal is set; in three years flexibility markets will be “business as usual”, says Hogga.