Baltic TSOs Set to Acquire Stake in Nord Pool Spot
The power transmission system operator Elering and its Baltic counterparts have signed a memorandum of intent for acquiring a stake in Europe's biggest power exchange, Nord Pool Spot (NPS).
Elering spokesperson Kadri Mets told uudised.err.ee that the details and size of the investment are still being negotiated between NPS, Elering, Latvia's Augstsprieguma Tīkls and Lithuania's Litgrid.
NPS is currently owned by Energinet.dk, Fingrid, Statnett and Svenska Kraftnät, which feel that it is important and logical to expand the circle of stakeholders to the Baltic TSOs based on the Baltic Energy Market Interconnection Plan.
Elering said it would ensure that the Baltic TSOs are in decision-making processes on the development of the power markets in the Baltics and and give Baltic TSOs the possibility of joining NPS's regional and pan-European initiatives in power market development.
"We hope that soon NPS bidding areas will be open in every Baltic state," said Elering's management board chairman Taavi Veskimägi. "Through the ownership of Nord Pool Spot there is a new way in which we are involved in creating a common electricity market in Europe."