We are delighted to announce that Brady’s power trading and communications platform Energy Data Manager ‘EDM’, is first to be approved for transition to the Nordic Balancing Model’s Automated Nordic mFRR Energy Activation Market.
Established in 2018, The Nordic Balancing Model (NBM) co-operation is a joint venture between the transmission system operators (TSO) of Norway, Sweden, Denmark and Finland, with the aim of ensuring efficient security of supply and delivering a balancing scheme compliant with the European network codes. The Automated mFRR Nordic Energy Activation Market project is a major milestone on the NBM roadmap.
This project’s implementation comprises two steps, a transition period – where all market participants are transitioned to new file format for bids and activations, followed by go-live, where the automated process for selecting bids goes live at all the Nordic TSOs.
Per-Herman Puck, Business Lead, EDM at Brady Technologies says, “We are extremely proud of this achievement. We work closely with our customers to ensure EDM is developed in line with the NBM milestones. This achievement demonstrates our commitment to being at the forefront of regulatory changes and providing best-in-class software for trading power across the Nordics.”
Brady’s customer Å Energi AS was approved for transition by the Norwegian TSO Statnett on January 12th 2023, and is the first market participant to go live in the Automated mFRR Nordic Energy Activation Market. Consequently, Brady Technologies is the first major energy trading software vendor to offer its customers a solution ready for the transition period of this key Nordic power market regulation milestone.
Brady’s PowerDesk EDM solution has also undergone the testing and is approved as ‘transition ready’ for the Automated mFRR Nordic Energy Activation Market. With EDM as the foundation, PowerDesk EDM, Brady’s Trader Dashboard, offers an enriched visualisation of market intelligence in real-time for traders and direct market access. Coupled with EDM, the PowerDesk dashboard is the most powerful Nordic trading tool for ancillary and wholesale market trading.
Over the past 12 months, Brady has already delivered on other key milestones in the NBM roadmap such as compliance with the Single Price Model, aFRR capacity market and 15 min Imbalance Settlement Period in the PowerDesk EDM platform. The final phase of the 15 min Imbalance Settlement Period is on track to go live later in 2023. Brady is also working on adaptions for compliance with the mFRR Capacity Market initiative.
EDM is a market leading trading and communication platform for Nordic electricity market participants. It offers strong alignment with market changes in the Nordic market, including changes in the roadmap for Nordic Balancing Model, with a pro-active approach towards market participants and upcoming changes.
The solution supports day-ahead, intraday and reserve market bidding, including FCR, aFRR and mFRR, 300+ integration formats, high volume time series data management including trading, production and metering data, enables power scheduling via Norwegian, Danish, Swedish and Finnish TSOs and meets Nordic settlement processes and invoicing ledgers and documents.
PowerDesk EDM offers an enriched visualisation of market intelligence in real-time for traders.
About Brady Technologies
Brady Technologies enables energy market participants to profit in new ways from their green energy transition, supporting our customers Environmental, Social & Governance (ESG) requirements. We provide software solutions to support above market returns, resilient risk management and scheduling in volatile markets.
Our customers include globally renowned organisations from utilities, independent power producers, renewable asset developers, energy trading firms, oil & gas companies, state power grid operators and commodity trading firms. Whether engaged financial or physical trading, on major exchanges or over-the-counter, we help market participants to realise revenue growth across the trading life cycle.