Compello explains industry relevant words and techniques, as typical buzzwords

 

What is NBS – Nordic Balance Settlement?

The Norwegian, Swedish and Finnish utility company (TSO; Fingrid Oyj, Statnett and Svenska Kraftnät) has decided to implement a joint Nordic balance settlement scheme, known as NBS (Nordic Balance Settlement).

Nordic Balance Settlement (NBS) involves establishment of a collective balance power settlement for Finland, Norway and Sweden. The purposes include reducing establishment barriers for power providers wishing to offer services in these countries, and paving the way for a collective Nordic end consumer market for power. Source; Statnett, 24 May 2017

NBS was put into operation on 1 May 2017.

 

Advantages of NBS

  • Creates a collective Nordic balance settlement, giving all Nordic countries one set of regulations to work with
  • Reduces entry barriers for dealers wishing to offer their services in the Nordic countries
  • Creates conditions for increased competition

 

The objectives of the NBS project:

  • A collective company with a collective IT system
  • A collective settlement system
  • Simplified administration
  • Long-term cost savings

 

NBS and Compello

Compello supplies EDI solutions to much of the Norwegian power market. We ensure secure, efficient message exchange with many markets, NBS being one of these.

 

Relevant terms to NBS: EDI, Statnett, EDIFACT, XML

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