Nordic Balance Settlement (NBS) is the establishment of a common balance settlement mechanism for Finland, Norway and Sweden. The purpose of the mechanism is to reduce entry barriers for retailers that want to offer services in these countries and pave the way for a common Nordic retail market for electricity.

NVE has made changes to regulation no. 301 on metering and settlement to facilitate the implementation of NBS. The regulatory amendments are a consequence of the declaration and goal of Nordic Energy Ministers to establish a common retail market for electricity in the Nordic region. NordREG has also published recommendations to establish a common Nordic balance settlement.

The common settlement central, eSett OY, will perform the balance settlement function for Finland, Norway and Sweden, replacing existing national settlement mechanisms. eSett Oy is established in Finland and is owned by the three collaborating countries' TSOs. eSett Oy will handle the daily settlement operations, within Norway. However, Norway's TSO, Statnett, will be responsible vis-à-vis the regulator for the functioning of the balance settlement. Statnett is also required to handle tasks that cannot be handled by eSett Oy, for example excluding a balance responsible party if necessary.

NBS's planned go-live date is 3 October 2016, when new settlement areas in the grid will be implemented simultaneously.