OREANDA-NEWS. April 14, 2010. Lithuania, Latvia and Estonia, in their gradual pursuit for the Baltic electricity markets interconnection plan, can rejoice yet another trade zone being launched at the moment, where the trade is based on Nord Pool Spot day-ahead principle.

From April 1, at the price area of Estlink cable, a new electricity trade spot – electricity exchange is being launched into operation where Baltic market players can conduct trade.  This trade will be conducted by Nord Pool Spot exchange, which for a number of years has been successfully operating in the Nordic countries. Latvia and Estonia conducts day-ahead trade at the electricity exchange in Lithuania since January 1 of this year.

“We have neared an ambitious aim to establish a common Baltic electricity market already in 2011. According to Baltic energy market interconnection plan (BEMIP) this target is to be achieved within 2011-2013.“, - said Aloyzas Koryzna, CEO of Lietuvos Energija AB. Within the scope of this plan at the beginning of this year Lithuania established an electricity exchange based on Nord Pool Spot principles.

The foundation for establishment of the common Baltic market was laid by the declaration signed on April 27, 2009 by Prime Ministers of Lithuania, Latvia and Estonia, highlighting the importance of creation of the common Baltic electricity market and stipulating the integration of the common market into the Nordic electricity market. The Baltic States have committed to expand electricity sector through development of electricity markets in line with the Nord market principles and experience as well as implement important infrastructure projects, allowing to ensure energy independence and expedite interconnection of the Baltic electricity grids with the EU countries.

Lithuania, Latvia and Estonia via Estlink cable have been trading with the Scandinavian countries and Finland since 2007.

Lietuvos Energija is the owner of electricity transmission (110 - 330 kV) grid and through its daughter companies performs the activities of electricity transmission operator, market operator and other activities in the field of electric power.