Veskimägi: Estonia Could Cut Power Ties with Latvia, Lithuania

Photo: Postimees/Scanpix
10/16/2013 3:29 PM
Category: Economy

Taavi Veskimägi, the head of the state-owned electricity transmission system operator Elering, said on his blog today that Estonia should consider whether it is in the nation's interest to be attached to the Latvian and Lithuanian power markets through Nord Pool Spot (NPS).

All of Estonia's energy trading goes through NPS, and although Latvia and Lithuania are connected to the market, they only sell a small part on NPS markets, driving prices up.

He said that the two other Baltic nations seem to lack the will to create a transparent power market.

NPS rushed the decision to expand into Latvia and Lithuania, Veskimägi said, and Estonia could take back Baltic cross-border capacities from NPS.

After dramatic spikes in electricity prices in the summer, Estonian economic affairs minister, Juhan Parts, also questioned the wisdom of a shared common electricity market with the other Baltic nations.

The spikes were attributed to Latvian and Lithuanian producers, which sold less electricity during the summer.


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