The Estonian and Lithuanian electricity transmission system operators (TSOs), Elering and Litgrid, have today (1 August 2012) each acquired a 2% share of Nord Pool Spot, Europe’s largest power market.
In addition, it has been agreed that the right of the Latvian TSO, Augstsprieguma Tikls (AST), to acquire a 2% share of Nord Pool Spot will be granted when the new Latvian power market opens. Meanwhile Nils Nygren has been appointed the new chairman of Nord Pool Spot, effective from the same date. Mr Nygren was previously responsible for public affairs at the Nordic energy business Fortum and now works as a private consultant.
Once all three Baltic TSOs are established as shareholders, existing shareholders Statnett and Svenska Kraftnät will each hold 28.2% of Nord Pool Spot, and Energinet.dk and Fingrid will both hold 18.8%.
The parties signed a Memorandum of Understanding (MoU) on the purchase of shares in Nord Pool Spot in April this year.
The four Nordic TSOs see the extension of ownership to the Baltic TSOs as an important and natural step in the further integration of the Baltic and Nordic electricity markets.
For the Baltic TSOs, part ownership of Nord Pool Spot is a strategic investment. It will enable their participation in the decision-making process, ensuring that the market interests of the respective Baltic countries are discussed and accommodated. It also allows the Baltic TSOs to contribute to Nord Pool Spot’s corporate activities in developing the regional and European power markets.
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. 370 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, 1 August 2012
For further information, please contact:
Executive Vice President Bente Hagem, +47 913 547 20
Press Secretary Viktor Wallström, +46 8 475 80 10
Executive Vice President Juha Kekkonen, +358 40 560 5274
Vice President, Electricity Market Søren Dupont Kristensen, +45 76 22 44 34