Nord Pool exchange to be expanded to the Baltics on 1 July 2009 at the earliest

The parties involved in the NPS Baltic project, launched last November by the Nordic power exchange Nord Pool, have reached the realization that the first possible date for launching trading will be 1 July 2009. The postponement is above all tied to the need to introduce corresponding changes into Estonia’s current legislation. According to the chairman of the OÜ Põhivõrk management board, Lembit Vali, the amendments to legislation are above all tied to the need to set forth the rights and obligations of eligible consumers operating on the free market. Rights and restrictions on import of electricity from third countries also need to be reviewed and updated. The parties agreed that the primary task of the NPS Baltic project would be to create a separate price region in the southern part of the Estlink submarine cable between Estonia and Finland. This will allow the Estlink cable to be used more efficiently in the future, with a greater market orientation. According to the plan, part of the submarine cable’s capacity will be opened for Nord Pool auctions and the hourly price of electricity will be established at auction directly as a result of the trading done by all of the parties. The parties involved in the NPS Baltic project are Nord Pool Spot AS, AS Latvenergo, Lietuvos Energija AB, Finestlink OY, Eesti Energia AS, Nordic Energy Link, Fingrid OY and OÜ Põhivõrk.
More information:
Ingrid Arus
OÜ Põhivõrk
Electricity markets development director
Tel: 71 51 248
[email protected] Iveri Marukashvili
Eesti Energia AS
Press Officer
Tel: +372 71 51 218
Mob: +372 53 411 813
F: + 372 715 28 06
[email protected]