Elering to become Nord Pool Spot shareholder

Estonian, Latvian and Lithuanian electricity transmission system operators (TSOs) Elering, Augstsprieguma Tīkls and Litgrid have signed a Memorandum of Understanding (MoU) on the purchase of the shares of the Nord Pool Spot, Europe´s largest power exchange. This is a crucial milestone in the implementation of the Baltic Energy Market Interconnection Plan (BEMIP).

The current owners, Energinet.dk, Fingrid, Statnett and Svenska Kraftnät see the extension of ownership to the Baltic TSO´s as an important and natural step in the further process integration of the Baltic and Nordic electricity markets.

For the Baltic TSOs, the ownership of Nord Pool Spot is a strategic investment. It will enable participation in the decision-making process where the market interests of the respective Baltic countries are discussed. It allows the Baltic TSOs to contribute to the Nord Pool Spot corporate activities in development of the regional and European power market.

A well-functioning common power market in the Baltic area is one of the highest priorities of the BEMIP. Estonia has already been functioning as Nord Pool Spot bidding area, with day-ahead market (Elspot) and intraday market (Elbas) established. After adoption of the new Law on Electricity in Lithuania in January, the legal background for the establishment of the Nord Pool Spot Lithuanian bidding area is in place. Agreement on Power Exchange Operation in the Republic of Lithuania between Litgrid and Nord Pool Spot has also been signed. The launch of the Lithuanian bidding area is intended 18 June 2012. In Latvia, the certification procedure of AST as an Independent System Operator is to be completed this year. A project with Nord Pool Spot has been initiated towards launching a Latvian bidding area.

„For all the three Baltic TSOs the purchase of the shares of the Nord Pool Spot is a significant step forward for common Nordic-Baltic electricity market to become reality. Elering has already worked for years to create understandable and transparent rules in the Baltic electricity markets as they are in the Nordic countries. We hope that soon NPS bidding areas will be open in every Baltic state. Through the ownership of Nord Pool Spot there is a new way in which we are involved in creating common electricity market in Europe,“ said Taavi Veskimägi, CEO of Elering.

Elering is the Estonian transmission system operator, whose primary mission is to ensure a uninterruptible, high-quality electricity supply to the Estonian consumers. To ensure security of supply of electricity, Elering operates and develops the national transmission network and external connections. Elering manages Estonia’s power system in real time, ensuring the functioning of the transmission network and the balance between production and consumption.

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.

For more information, please contact:

Elering
Communication specialist Kadri Mets, +372 56 470 464

Statnett
Executive Vice President Bente Hagem, +47 913 547 20

Svenska Kraftnät 
Head of press and communication, Maria Jäderberg, +46 8 478 80 10

Fingrid
Fingrid/ Executive Vice President Juha Kekkonen, +358 40 560 5274 
Development Manager Juha Hiekkala, + 358 40 553 9898

Energinet.dk
Vice President, Electricity Market Søren Dupont Kristensen, +45 76 22 44 34