Svk Månadsrapport Balansmarknader Juli 2026

Period: July 2026 (monthly balancing-market report; published gives the report month), with January–July 2026 summary boxes for FCR, aFRR CM, mFRR CM and mFRR EAM Language: Swedish

Key figures — July 2026

FCR (monthly mean, EUR/MW): FCR-N 17.1; FCR-D upp 3.7; FCR-D ned 2.9 — all down versus June. Against July 2025 the volume-weighted means were lower for FCR-D upp (2025: 5.24) and FCR-N (2025: 20.91) and marginally higher for FCR-D ned (2025: 2.42).

aFRR CM (monthly mean, EUR/MW):

Up fell in all zones versus June; down fell in SE1–SE3 and rose in SE4; both are below July 2025 in every zone. Share of called volume in Sweden: aFRR down 15%, aFRR up 2% (both level with June).

mFRR CM (monthly mean, EUR/MW):

Up fell in SE1–SE3 and rose in SE4; down rose in SE1 and SE2 and held level in SE3 and SE4. Swedish share of called volume fell slightly for up and rose slightly for down.

mFRR EAM spread over spot (EUR/MWh, July 2026 mean): up SE1 26, SE2 28, SE3 54, SE4 95; down SE1 −13, SE2 −15, SE3 −38, SE4 −49. Up spread rose in SE4, fell in SE1 and SE2, level in SE3; total activated mFRR up volume in Sweden fell, down volume rose.

January–July 2026 summaries (the report’s own boxes)

FCR

• FCR moved to the Nordic MMS platform on 14 April 2026; mainly an IT-system change, which introduced two new bid attributes, divisibility and information on static vs dynamic FCR-D. Divisible bids are widely used, especially among called bids: divisible share of bid volume/called volume was 35%/47% for FCR-D ned, 47%/50% for FCR-D upp and about 42% for both for FCR-N. A volume limitation of static FCR-D upp is planned for September.
• Prequalified volumes Q1–Q2 2026 grew by +480 MW FCR-D ned, +241 MW FCR-D upp and +166 MW FCR-N, mostly energy storage; solar (+71 MW) and wind (+89 MW) grew in FCR-D ned.
• Average monthly prices Jan–Jul against the same period of 2025: FCR-D upp 5.72 → 4.95, FCR-D ned 7.05 → 4.24, FCR-N 30.38 → 20.75 EUR/MW. The February peak (FCR-D upp weighted mean 8.41) coincided with high spot prices in all zones.

aFRR CM

• Demand: the Nordic volume requirement was lowered in January (good frequency quality) but Sweden’s own requirement rose because of a new Nordic distribution key, averaging 85 MW/hour up and 112 MW/hour down from 1 January. In July the Nordic up volume was cut by 25 MW in hours 07–19 (hour numbers, i.e. 06:00–19:00), bringing the Swedish average up requirement to 80 MW/hour. The 25 MW cut means the previous daytime Nordic level was 225 MW.
• Supply: prequalified up volume rose from 2,630 to 2,820 MW, mainly storage and wind-plus-battery.
• Prices: average up fell from 22 to 7.7 EUR/MW and average down from 22 to 14 EUR/MW against Jan–Jul 2025. Svk attributes this partly to lower procured volume and to the 2025 introduction of automated mFRR EAM, and partly to more imports: the import share of the Swedish requirement rose from 69% to 98% for up and from 38% to 58% for down, mostly from Finland and DK2. This has made prices within Sweden more homogeneous and weakened the link between aFRR up prices and spot prices.

mFRR CM

• Variable demand (trade may vary ±10% from the static reference, based on forecast need) was introduced in January. Average Swedish requirement Feb–Jul: 1,077 MW up (previously about 1,180 MW) and 990 MW down (previously 1,050 MW). Bid volumes averaged 1,700 MW up and 1,600 MW down.
• Prices against 2025: up 39 → 13 EUR/MW, down 36 → 15 EUR/MW (volume-weighted). SE4 up stayed at 18–28 EUR/MW because of lower liquidity and import dependence (price bottlenecks between SE3 and SE4). Down prices are highest in SE1 (peak 30 EUR/MW in April), where demand is high and southbound import is limited by the reservation cost. Imports averaged 154 MW/hour for up (85 Finland, 69 Denmark) and 37 MW/hour for down.

mFRR EAM

• Prequalified resources in Sweden rose from 17,000 to 19,000 MW up and from 17,200 to 19,400 MW down (about 14,000 MW in January 2025), mostly wind (about +1,000 MW) and storage (about +400 MW); SE3 added 770 MW up and 860 MW down. SE4 bid volume rose from 44 to 188 MW on average.
• Activated volumes Jan–Jul 2026 against 2025: up 426 → 330 GWh, down 686 → 633 GWh; SE4 up 6 → 51 GWh, SE3 up 57 → 79 GWh. March set a record for Swedish up-regulation.
• Spread up: SE1 29 → 35, SE2 51 → 37, SE3 101 → 58, SE4 146 → 73 EUR/MWh; spread down: SE1 −29 → −26, SE2 −31 → −25, SE3 −47 → −39, SE4 −52 → −46. Volatility is lower than around the mFRR EAM introduction, though a few outlier quarters remain in SE4 up: 32 quarters above 1,000 EUR/MWh in Jan–Jul 2026 against 106 in 2025. The weekly manual price adjustments ended at the end of June; prices were adjusted in 20 quarters in the first half of 2026.

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