The Finnish-Russian cross-border trading is divided into two parts: Bilateral Trading and Direct Trading. The ‘Agreement on transmission service on Fingrid’s cross-border connections between Russia and Finland‘ for the period of 1 March 2016 – 28 February 2017 entered into force 1 March 2016. The updated agreement between Fingrid and respective Customers introduced some changes to the current ‘Direct Trade’ setup between Finland and Russia.
In order to enable the use of block products for ‘Direct Trading’ orders on the day-ahead market regarding ‘Direct Trade’ shall be placed in the Finnish bidding area instead of the Finnish Russian Exchange (FRE) area. The capacities and flows published for the FRE area will still reflect the ‘Direct Trade’ capacity and flows as today. As the day-ahead trading will technically take place in the Finnish bidding area, no price will be published separately for the FRE area. Intraday trading relating to the use of ‘Direct Trade’ capacity will continue to take place in the FRE area. These changes will be implemented starting 15 March 2016 for delivery on 16 March 2016.
More information about the Finnish-Russian cross-border trading can be found from Fingrid’s webpage.
Changes – if any – to the Nord Pool rulebook in this regard will be addressed separately.
Lysaker, 8 March 2016