The new Elspot bidding area in Lithuania was successfully opened on Monday 18 June 2012. As a result Lithuania now forms a new day-ahead Elspot bidding area in the Nord Pool Spot market, with no direct connections to other existing bidding areas.
The opening of the new bidding area comes as a result of an agreement with the Lithuanian transmission system operator, Litgrid, which made it possible for Nord Pool Spot to be the market operator for Lithuania.
24 members have signed up and are ready to participate in the new Lithuanian bidding area. The day-ahead power price calculated for the first delivery day Monday 18 June was at 69.60 EUR/MWh, and for delivery day Tuesday 19 June 57.47 EUR/MWh. Traded volumes were around 20 GWh for both the first two days of operation. All three Baltic countries (Lithuania, Estonia and Latvia) are represented among the members supporting liquidity in the Lithuanian market and ensuring a reliable power price.
Commenting on the launch, Mikael Lundin, CEO at Nord Pool Spot, said: “We are pleased to announce the successful launch of the Lithuanian bidding area and anticipate a very positive future integration of Lithuania into the Nordic power market. The long term goal is to create a Baltic market with reliable prices integrated to the Nordic market through Nord Pool Spot.”
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, 18 June 2012
For further information, please contact:
Stina Johansen, Head of Communications, +47 916 50 603