eSett Oy

eSett Oy (eSett) is, on behalf of the three TSOs, responsible for imbalance settlement and invoicing of the market participants in Finland, Norway and Sweden. eSett is providing imbalance settlement services to the electricity market participants in Finland, Norway and Sweden. eSett Oy is a company formed and jointly owned by the three Nordic Transmission System Operators (TSO) Fingrid Oy, Statnett SF and Svenska kraftnät. Imbalance settlement is a necessary function in a commercial based electricity market. There must always be a balance between supply and consumption of electricity. To achieve this, the TSOs use balancing power procured in the balancing power market. Imbalances arise from uncertainties in plans and failures in generation, consumption and grid.