A Review on Nord Pool Electricity Market: From ATC to Flow-based Clearing

The Nordic electricity market operated by Nord Pool is a mature cross-regional electricity market, and its operation patterns and technology can provide experience for the electricity market design in other regions. This paper introduces the overview of the Nord Pool market and analyzes its market framework. Then, its clearing model and congestion management method are illustrated, and two models, i.e., available transfer capability (ATC) model and flow-based (FB) model, are compared in detail. Finally, a case study demonstrates the difference between calculation results of these two models.