Balancing Market

The purpose of the Balancing Market is to correct any imbalance between production and demand in real time, maintaining the uninterrupted supply of energy from the system at the predicted quality characteristics and considering the purchase by participants in the previous markets. The Balancing Market is divided into the Balancing Power Market, the Balancing Energy Market and the Discrepancy Clearing Process.

In the Greek Balancing Market, the model of the Central Dispatch of the units is adopted by the Transmission System Operator through the execution of unified programming procedures. Participants in the Balancing market are characterized as representatives of Balancing Responsible Parties and/or Balancing Service Providers. Balancing Service Providers, as part of their participation in the Balancing Market, may submit the following offers for the Balancing Service Entities they represent:

· Upward and Downward Frequency Containment Reserve Offers (FCR)
· Upward and Downward Manual Frequency Restoration Reserve Offers (mFRR)
· Upward and Downward Automatic Frequency Restoration Reserve Offers (aFRR)
· Upward and Downward Balancing Energy Offers

The Discrepancy Clearing procedure refers to the financial clearing mechanism for imposing charges or making payments to the contracting parties with Balancing responsibility for their discrepancies.