Transition to 15-minute trading on the electricity exchange: how it will affect users

From October 1, in Latvia and throughout Europe, the price on the Nord Pool electricity exchange will be set every 15 minutes, rather than every hour as has been the case until now.

Greater stability and efficiency of the energy system

By introducing shorter, 15-minute price intervals at the national level, it is possible to coordinate electricity production and consumption much more effectively, reducing system balancing costs and ensuring a more reliable electricity supply. This allows the market to function more smoothly, with prices reflecting the actual balance between electricity supply and demand rather than just the average hourly situation. This is particularly important as electricity generation from renewable sources increases. Wind and solar power plants can produce very different amounts of electricity within a matter of minutes – one moment the sun is hidden behind clouds, the next moment the wind picks up. Shorter intervals help to manage such fluctuations more quickly, making the system more stable. This benefits everyone – both household consumers and businesses – because a more reliable electricity market means lower costs and greater security of supply in the long term.

How will this affect electricity users?

These changes will not result in any significant changes for end users of electricity. The only difference is that the price on the electricity exchange will now be set every 15 minutes instead of every hour, but this will not significantly change daily settlements and usage habits.

With the transition to 15-minute trading, the distribution system operator AS Sadales tīkls will gradually introduce 15-minute electricity metering.

Initially, during the transition period, hourly consumption data will be reflected in arithmetic 15-minute intervals – that is, the kilowatt-hours recorded during an hour will be divided into four equal parts. Actual 15-minute consumption data will be available next year, when the entire metering infrastructure will be fully adapted.

The Enefit Latvia app is currently being adapted to the changes, and Nord Pool exchange prices at 15-minute intervals will be visible in it within a few months, alongside the usual hourly price display.