Balance settlement for the balance responsible party
Balance settlement serves to identify the distribution of electricity between electricity market parties in the energy system. The official balance settlement is conducted after the fact using time series based on scales of either one-hour or 15-minute intervals, depending on specific market rules. Balance settlement is done separately for consumption and production, but can in some cases be combined, depending on market rules.
For you as a balance responsible party, the balance settlement process includes the verification of initial information about your balance and that of other parties within the scope of your open delivery. It also includes the calculation of balances at main grid level. The official results of this balance settlement include the levels of open delivery for consumption portfolios covered by you, as well as the production and consumption of generation portfolios.
Empower's balance settlement service includes managing your balance settlement obligations. In addition to checking balance details, the service covers fixed-format message communications between different market parties with regard to initial balance settlement information and settlement results. As a result, any open deliveries between balance responsible parties can be identified, on which you can base your internal invoicing.
Typically, the balance settlement service is a part of a larger service package. Other Empower services in this kind of package often include power consumption and production estimates, procurement planning, spot-trading, 24/7 balance management and various reporting and invoicing services.