PICASSO (aFRR balancing energy platform)

PICASSO is the European platform for the cross-border exchange of aFRR balancing energy under Article 21 of EBGL Regulation (EU) 2017/2195. Its Activation Optimisation Function clears the cross-border aFRR merit order every 4 seconds, producing a marginal price per direction; settlement aggregates into 15-minute market time units. Elering joined PICASSO on 9 April 2025.

PICASSO (Platform for the International Coordination of Automated Frequency Restoration and Stable System Operation) is the European platform for the cross-border exchange of aFRR balancing energy. It is implemented under Article 21 of the Electricity Balancing Guideline (Commission Regulation (EU) 2017/2195) and operated by ENTSO-E member TSOs.

The 4-second cycle

At the heart of PICASSO is the Activation Optimisation Function (AOF), which clears the cross-border aFRR merit order every 4 seconds, producing a marginal cross-zonal price per direction. Each cycle considers all connected TSOs' aFRR demand, all available bids, and remaining cross-zonal capacity. Settlement aggregates the 4-second prices into 15-minute Market Time Units.

Estonia connected 9 April 2025

Elering joined PICASSO on 9 April 2025, ahead of aFRR capacity being added to the joint Baltic Balancing Capacity Market (BBCM) on 15 April 2025 and the opening of the EE–FI border for aFRR energy on 16 April 2025. Other operationally connected members include Germany, Austria, Czechia, Slovakia, Belgium, the Netherlands, Denmark, Finland, Italy, Hungary, Lithuania and France. Estonia's national gateway is operated by Elering; BSPs submit aFRR bids to Elering, which forwards them onto the platform.

Energy not capacity

PICASSO is a balancing-energy platform — the cross-border activation marketplace, not the capacity-procurement market. aFRR capacity in the Baltics is procured through the BBCM. The mFRR equivalent of PICASSO is MARI; the imbalance-netting equivalent is IGCC.

Sources

ENTSO-E: PICASSO · EBGL Article 21 · Elering: joining PICASSO 9 April 2025

Usein kysyttyä

What is PICASSO?

PICASSO (Platform for the International Coordination of Automated Frequency Restoration and Stable System Operation) is the EU-wide platform that clears aFRR balancing energy across borders. It is implemented under Article 21 of the Electricity Balancing Guideline (Reg 2017/2195) and operated by ENTSO-E member TSOs. Its Activation Optimisation Function runs every 4 seconds, producing a cross-border marginal aFRR price per direction.

When did Estonia join PICASSO?

Elering joined PICASSO on 9 April 2025, alongside AST and Litgrid. The accession brought the Baltic CoBA into the EU aFRR cooperation, complementing the MARI accession that had already happened on 9 October 2024 for mFRR. From 15 April 2025, aFRR balancing capacity is also procured jointly via the Baltic BBCM market.

What's the difference between PICASSO and MARI?

PICASSO clears aFRR (automatic, 5-minute Full Activation Time, closed-loop signal); MARI clears mFRR (manual, 12.5-minute FAT, dispatched by the TSO). PICASSO clears every 4 seconds for activation; MARI clears every 15 minutes. Both settle per Market Time Unit at a marginal cross-border price per direction. Most TSOs are connected to both; Estonia joined MARI October 2024 and PICASSO April 2025.

Where can I see PICASSO's effect on Estonian balancing prices?

The Baltic Transparency Dashboard publishes the cross-border marginal price (CBMP) per Baltic country alongside activated and netted aFRR volumes. The realised Estonian imbalance price is the area-specific aFRR (or mFRR) marginal price plus or minus the monthly neutrality component, with the sign determined by Direction of System Balancing.