In Finland, district heating company Raseborgs Energi is introducing a new electric boiler for district heating production. Gasum's multi-market optimization (MMO) service helps the company to take full advantage of the flexibility provided by different forms of heat production.
Located in southern Finland, Raseborgs Energi will start using Gasum’s multi-market optimization (MMO) service for the management of district heating production.
The company produces district heating for the residents of the Raseborg area and owns the local electricity network.
Increased flexibility in heat production
Raseborgs Energi is electrifying its district heat production by investing in an electric boiler, which will be commissioned at the end of June 2025. An oil-fired boiler that served as a backup system was dismantled to make way for the new electric boiler.
With the help of the electric boiler, the company can take advantage of fluctuations in electricity prices.
The boiler will be used for heat production when the price of electricity is low. When the price of electricity is high, heat is produced with biomass fuels in existing plants.
Diverse forms of heat production increase the flexibility of the district heating system. With Gasum’s MMO service, Raseborgs Energi will be able to take full advantage of flexibility and price fluctuations in the future.
In January, we gave up traditional electricity retail sales and are now focusing more on sector integration by combining the flexibility of our heat production with new opportunities in the electricity market. Gasum’s MMO service opens up good opportunities for us to gain new sources of income from the imbalance power, balancing power, and reserve markets, said Frank Hoverfelt, CEO of Raseborgs Energi.
MMO supports sustainability targets
Raseborgs Energi’s strategic goal is to reduce the use of biomass fuels by 40 percent by 2030. The new electric boiler is a big part of the plan.
The reason for the change is the increased price of woodchips and ensuring the sustainability of the used biomass.
Gasum’s MMO service transcends traditional boundaries by enabling optimization between different energy feedstocks, such as gas, heat, and solid fuels. The solution also supports sustainability targets by optimizing energy consumption and renewable energy production.
The service includes comprehensive market access, trading and advisory services, and optimization of the use of batteries, heat pumps, and boilers. It opens up the entire value chain of the electricity market, from long-term hedging solutions to rapid measures in the reserve market.
The optimization is supported by Gasum’s experts, who work with portfolio management, balance management, reporting, and round-the-clock control room services.
Gasum’s multi-market optimization has received a very positive welcome in the industry, as there is a demand for a risk-reducing service as the energy market becomes more complex and price volatility increases. It is great that we can help a traditional local energy company like Raseborgs Energi to provide reliable and stable energy services to the residents of the area, even in today’s turbulent energy environment, said Ville Pesonen, VP of Transport and Industry at Gasum.
