Nordic RCC Annual Report 2023

We are pleased to announce the publication of Nordic RCC A/S’ Annual Report 2023. This report represents our first full year in operation as an individual company. At the same time, it represents our preparations for the future both as an organisation and for the services we are to provide.

This report meets the regulatory obligations of an Annual Report for an RCC. Moreover, it attempts to communicate the complexity of the work of Nordic RCC and the role we play in enabling the green energy transition by providing services and insights to TSOs.

The report is structured into three main sections:

  • The Management Review provides information about Nordic RCC as a company and includes remarks form our CEO and Chairperson.
  • Task monitoring elaborates on the tasks we perform and implement, and report on the outcome of our monitoring obligation fulfilling the requirements of Article 46 of the EU regulation 2019/943 on the internal market for electricity.
  • The Financial Statements section reports on our financial progress and is compliant with the International Financial Reporting Standards (IFRS).

A strategy to guide us and an IT platform to perform on

In 2023, we defined our 3-year strategy for the entire organisation, gathering everyone in a common direction with an ambitious vision and prioritised activities to get us there.

For Nordic RCC to deliver as required, we need a modernised and updated IT infrastructure, which we also succeeded in building together with our infrastructure partners in 2023. We now have a scalable and future-ready IT infrastructure.

One step closer to flow-based capacity calculation

In a broader perspective, we increased the focus on the External Parallel Run (EPR) for the flow-based methodology for day-ahead Coordinated Capacity Calculation (CCC). With that focus, we succeeded in reaching the required 3 months in accordance with the criteria set by the National Regulatory Authorities (NRAs).

Once we go live, we will be able to provide more precise and less conservative capacities to the market, increasing the possible flow of energy across the Nordic region and resulting in a more efficient utilisation of the European electricity grid.

A small but important part of the green transition

We hope that we, with this report, can also communicate our contribution to the green energy transition. Nordic RCC is a small but important part of providing secure, efficient, and transparent power systems in the Nordic region and in Europe and we are proud of all the things, Nordic RCC has accomplished this last year. You can read the full report here.