What are Balancing Energy Markets
As in other European countries, transmission system operator Elia monitors the balance of the Belgian grid. It requires each Balancing Responsible Party (BRP) to maintain a balanced portfolio. In concrete terms, this means that the offtake and injection in its portfolio must be balanced every quarter of an hour, taking into account the volumes traded on the electricity markets. In real time, however, BRPs may face imbalances, for example if a customer suddenly consumes more or a production installation produces less than expected. The imbalances of all Belgian BRPs partially cancel each other out, some BRPs have a positive imbalance (a surplus of energy), others a negative imbalance (a shortage of energy). The remaining imbalance is eliminated by the system operator Elia using balancing power, which it purchases in advance in the balancing markets organized for this purpose. In this way, Elia ensures that it has the necessary resources available at all times to maintain the system balance. Market players offering balancing capacity are remunerated on the basis of the price flow in the balancing market.