Nord Pool Spot plans to launch a new Elspot bidding area in Latvia 3 June, 2013. The company has decided to formally launch the project that it firmly believes can lead to the opening of a new Latvian bidding area in the Nordic/Baltic power market. The decision has been taken on the announcement that the Latvian system operator, Augstsprieguma tīkls (AST), has received its preliminary certification from the Latvian Regulator to become an Independent System Operator.
As the market operator for neighbouring Lithuania and Estonia, Nord Pool Spot has closely followed AST in its work towards achieving full certification. With this first milestone successfully achieved, Nord Pool Spot has commenced its own project towards the opening of a Latvian bidding area. A final commitment to pursue the project to delivery will be made when it becomes clear to Nord Pool Spot that the EU Commission will approve AST as an Independent System Operator.
Latvia will form a new day-ahead Elspot bidding area in the Nord Pool Spot market, which already covers the Nordic region, Estonia and Lithuania. The Latvian bidding area will be connected to the Estonian and Lithuanian areas, and across the Latvian-Russian border.
The trading currency in the new Latvian bidding area will be EUR.
Commenting on Nord Pool Spot’s plan to open a new Latvian bidding area, Nord Pool Spot CEO Mikael Lundin said: “We are confident that AST will secure the EU Commission approval of its certification as an independent system operator and it is important that we start our preparation now, so that we can rapidly deliver the changes in the market which the Baltic energy sector wants, when the time comes.”
About Nord Pool Spot
Nord Pool Spot operates Europe’s leading power markets, offering both day-ahead and intraday trading to its members. 370 companies from 20 countries trade on Nord Pool Spot’s markets in the Nordic and Baltic regions, and on our UK market N2EX. In 2011 the group had a total turnover of 316 TWh traded power. Our markets are operated from offices in Oslo, Stockholm, Helsinki, Copenhagen, Tallinn and London. Nord Pool Spot strives continually to strengthen its business by working with integrity, together with members and stakeholders, to achieve excellence.
Lysaker, 15 November 2012
For more information, please contact:
Stina Johansen, Head of Communications, +47 916 50 603