Nord Pool Spot is pleased to announce that its European intraday market, Elbas, is planned introduced in both Latvia and Lithuania by the end of 2013. This completes Nord Pool Spot’s long term goal of creating an integrated Baltic power market connected to the Nordic region.
Elbas is well established as a successful European cross-border intraday market in the Nordic region, Estonia and the German market. It is also the intraday system used by APX in the Belgian and Dutch markets. The introduction of Elbas in Latvia and Lithuania completes the Baltic region’s power market, and connects all members within and across the borders of the Nordic, Baltic, Benelux and German intraday markets.
Commenting on the approaching launch of Elbas in Latvia and Lithuania, Nord Pool Spot CEO Mikael Lundin said: "Nord Pool Spot is pleased to confirm our plan to launch an intraday market in both Latvia and Lithuania. The proven track record of Elbas will ensure the establishment of a robust and trustworthy intraday system which can rapidly deliver an efficient intraday market and create a modern, competitive environment for the trading of Baltic power.”
Elbas is a continuous cross-border intraday market where adjustments to trades in the day-ahead market, Elspot, are made. Elbas plays an important complementary role in creating an efficient power market, as a variety of European counterparts trade power contracts comprising different power sources, close to delivery hour.
Elbas was launched in 1999 and has, during its 14 years of operation, been continuously developed to meet the specific needs of pan-European markets.
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 2012 the group had a total turnover of 432 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, 11 June 2013
For further information, please contact:
Stina Johansen, Head of Communications, +47 916 50 603