As of 1 October, the Nord Pool electricity exchange began calculating electricity prices in 15-minute intervals instead of the previous hourly periods. This change is part of a broader European Union electricity system reform aimed at making the electricity market more accurate, flexible and renewable-energy-friendlier.
Why is the transition being made to a 15-minute trading period?
Up to now, the electricity market has operated on the basis of one-hour trading periods. However, electricity generation and consumption can vary significantly within the course of an hour – for example, on cloudy days, solar power production can change within minutes. A shorter, 15-minute trading period makes it possible to balance the electricity system more effectively, reduce costs and increase the share of renewable energy. In addition, it helps to keep the frequency of the electricity system stable, which is important for ensuring the reliability of electrical appliances and the integrity of the system as a whole.
When will meters start measuring data at 15-minute intervals?
Network operators will gradually replace or reconfigure electricity meters by no later than 2031. This will take place according to the network operator’s plans and depends on the service life of the existing meter. Customers do not need to take any action themselves in connection with the transition to 15-minute metering.
How can I tell if I have a 15-minute meter?
You can view this information in Elering’s customer portal under the section ‘metering point data’, where it shows whether data is transmitted in one-hour or 15-minute intervals.
Elektrilevi customers can also check the type of their meter in the consumption history view of Elektrilevi’s self-service portal.
How is my electricity price calculated if I do not yet have a 15-minute meter?
If your meter does not yet support 15-minute measurement, the data will be displayed as calculated values – the hourly consumption is divided into four parts. The customer will only see actual 15-minute data once the meter has been replaced or configured in accordance with the new standard.
Where can I view the 15-minute prices?
The 15-minute prices on the electricity exchange are displayed on the Nord Pool platform. In addition, electricity suppliers and network operators are making the necessary technical updates in their self-service portals. If you are an Enefit customer, you can also see the 15-minute prices in the self-service portal and in the app.
Do I have to pay for the installation of a new electricity meter when my turn comes?
No. The cost of replacing the meter is covered by the network operator, and this does not change the customer’s network service contract or create any additional obligations.
In summary: The transition to a 15-minute trading period helps to balance the electricity system more effectively, promotes the use of renewable energy and enables consumers to use electricity more smartly.
Although the changes are taking place gradually, the customer does not need to do anything themselves – the network operator will contact the customer directly in the event of a meter replacement.
If you wish to check the type of your meter, log in to Elering’s customer portal or the self-service portal of your network operator.
