14.6.2013 15:00
Current News, International News, Electricity Market

From Nordic to Baltic markets

The integration of the Baltic region's power market with the Nordic system is proceeding. The Elspot bidding area in Latvia was launched on 3 June 2013, and it also links the Lithuanian bidding area to the Nordic markets. Latvia and Lithuania intend to open the Elbas intraday market at the end of this year. In Estonia, the Elspot and Elbas markets have been available since 2010. 
The market integration has also expanded the ownership of the Nord Pool Spot. The Estonian and Lithuanian transmission system operators already have a holding in the company, and now the Latvian transmission system operator can also buy into it.

Transmission links between the Baltic and Nordic countries are reinforced. On its completion in 2014, Estlink 2 will increase the transmission capacity between Finland and Estonia to 1,000 megawatts. NordBalt (700 MW) will be completed at year-end 2015 and open a new transmission link between Lithuania and Southern Sweden.

The development in the Baltic region has been brisk, and the Nordic power market has been replaced by the Baltic Sea region's market.

For more information from Fingrid, contact Juha Hiekkala, tel. +358 30 395 5108