The steering committee of the NPS BEMIP project decided on 3 November 2011 to end the project.
The Baltic Energy Market Interconnection Plan (BEMIP) is the EU Commission initiative to achieve further integration of Lithuania, Latvia and Estonia with EU energy networks and energy markets. The NPS BEMIP project has offered possibilities to fulfill several of the targets described in the BEMIP.
The project has created a better understanding of the prerequisites for a well-functioning power market in the Baltic area as well as a good basis for new price areas in the Baltic countries.
The main target of the project has been to make power trading more efficient and optimize cross-border capacity utilization between the Baltic countries. The project supports the establishment of the day-ahead market (Elspot) and intraday market (Elbas) in Latvia and Lithuania. Elspot and Elbas have already been launched in Estonia.
For the project to be completed in Lithuania, relevant legislation needs to be passed. The Memorandum between Nord Pool Spot and the local TSO ensures the project to be finalized after the legislation is in place. In addition, the certification procedure of the independent system operator needs to be completed in Latvia.
Nord Pool Spot continues to work together with the local TSOs on establishing day-ahead markets in Latvia and Lithuania as soon as possible. A final decision on when to launch the new bidding areas will be made as soon as all conditions are in order.
The NPS BEMIP project was launched in February 2010 and was a joint project formed by an agreement among Nord Pool Spot, Augstsprieguma Tīkls, LITGRID, Elering, Fingrid and Svenska Kraftnät.
About Nord Pool Spot
Nord Pool Spot runs the leading power market in Europe and offers both day-ahead and intraday markets to its customers. 350 companies from 18 countries trade on the market. The Nord Pool Spot group has offices in Oslo, Stockholm, Helsinki, Copenhagen, Tallinn and London. In 2010 the group had a total turnover of 310 TWh, which includes the auction volume in the UK market N2EX.
Lysaker, 22 November 2011 09:41 CET
For further information, please contact:
Stina Johansen, Communications Manager Nordic, +47 916 50 603