Nord Pool Spot is pleased to announce its intention to launch a new Elspot* bidding area in Lithuania on Monday 18 June 2012.
Nord Pool Spot has today 26 March signed an agreement with the Lithuanian transmission system operator, Litgrid, which makes Nord Pool Spot the market operator of the new Lithuanian bidding area.
Lithuania will form a new day-ahead Elspot bidding area in the Nord Pool Spot market, with no direct connections to other existing bidding areas.
The trading currency in the Lithuanian bidding area will be EUR. The domestic currency, Litas (LTL), will be added as a trading currency at a later stage.
Commenting on the forthcoming launch of the new bidding area, Nord Pool Spot CEO Mikael Lundin said: "Nord Pool Spot is pleased to announce our plan to open Lithuania as a new bidding area. Since Lithuania’s electricity law was passed by the country’s parliament earlier this year, it is now possible for us as a energy exchange to operate the Lithuanian market."
* Elspot is Nord Pool Spot’s day-ahead market for trading power. It is an auction based market for delivery of power the following day.
About Nord Pool Spot
Nord Pool Spot runs the leading power market in Europe and offers both day-ahead and intraday markets to its members. 350 companies from 20 countries trade on the market. The Nord Pool Spot group has offices in Oslo, Stockholm, Helsinki, Copenhagen, Tallinn and London. In 2011 the group had a total turnover of 316 TWh, which includes the auction volume in the UK market N2EX.
Lysaker, 26 March 2012
For more information, please contact:
Stina Johansen, Communications Manager Nordic, +47 916 50 603