The quarter hour balancing – the importance of forecasting and management grows

The electricity market is middle of a major transformation. Moving to a quarter hour balancing period has changed the way production and consumption are managed. As a result, forecasting accuracy and fast response times are now more important than ever.

We will be participating in DuuniDay 2025 on Wednesday at LUT University!

As we wrote in our previous blog on hybrid power plants, a change was made to the Electricity Market Act in the spring of 2025, allowing interconnected production units and energy storage systems to be connected to the power grid via a shared connection line, even if they are located on different properties. This change, along with other recent changes to the Electricity Market Act and developments in the market, reduces the costs of grid connection. These changes also help enable a more flexible electricity grid, where hybrid power plants can operate as an integral part of the overall energy system. The development of the power system will continue to be wide-ranging, and the size of generation plants is also expected to increase. In our view, future systems will increasingly involve energy production systems above 110 kV, so it is important that grid permits and bureaucracy do not become obstacles to large-scale projects.

Syncron Tech will be participating in the Käyttö ja kunnossapito -ajankohtaispäivät organized by Finnish Renewables on September 3–4 in Oulu!

Syncron Tech will be at CxO Industry 2025 next week!

The popularity of solar power is rapidly increasing, and interest in large-scale industrial solar power plants in particular is growing. Although renewable energy sources have been gaining popularity, the adoption of solar power has been slowed, especially by the high unit costs of solar panels.

Why are hybrid power plants gaining attention? Hybrid power plants, which combine at least two energy sources such as solar power, wind power, and energy storage, are currently among the most talked-about topics in the energy industry. These facilities, which integrate multiple forms of energy production, enable more efficient and profitable energy production while also allowing participation in reserve markets.

Syncron Tech will participate in the Manufacturing Performance Days (MPD) 2025 event, which will be held in Tampere on June 4–5, 2025.

Syncron Tech participates at CxO Industry 2024 event, which will be held at Tampere Hall on September 4, 2024. The event has already reached its sixth year and brings together hundreds of decision-makers as well as respected international speakers from pioneering organizations. The event offers a unique opportunity to network and share ideas with the most influential decision-makers. International speakers from industry-leading organizations will take the stage to share their views and best practices, and will deal with the hottest topics throughout the day, which will provide valuable information and insights for business development. Some of the interesting topics of this year's event include utilizing big data and artificial intelligence to achieve competitive advantage, strategic investments and sustainable growth. We at Syncron Tech are looking forward to the event's interesting discussions and new insights. See you in Tampere in September! Read more about the CxO Industry 2024 event here.