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The agreement on the start of power exchange trade zone was signed by the country’s electricity transmission system operator ‘Litgrid’ and Nordic electricity trading exchange, Nord Pool Spot on 26 March, alfa.lt reported on 18 June.

The common Nordic electricity market is one of the most important goals of the Baltic electricity market interconnection plan (BEMIP) and Lithuania’s energy strategy.

The new version of Electricity Act, which came into effect in February 2012, created the legal preconditions for the Lithuanian electricity market integration in the Nordic countries, and later – in common European electricity exchange.

In January this year, ‘Litgrid’, ‘Augstsprieguma network’ (Latvia), ‘Elering’ (Estonia) and ‘Nord Pool Spot’ signed a letter of intent of the three Baltic countries where the power system operators (PSO) have expressed their intention to participate in the ‘Nord Pool Spot’s’ share capital and management. The participation of Baltic PSO’s representative in ‘Nord Pool Spot’ board will ensure the representation of these countries in strategic decisions on electricity market integration and development.

Nord Pool Spot – the leading Nordic electricity trading market, operating since 2002. Group’s power turnover in 2011 was 316 TWh.

Translated by Agnė Štengerytė