An agreement was made that another Latvian operator, Augstsprieguma Tīkls, would also acquire a 2 percent share when the new Latvian power market opens, a press release from Elering said.

“The four Nordic transmission system operators see the extension of ownership to the Baltic transmission system operators as an important and natural step in the further integration of the Baltic and Nordic electricity markets,” the press release said.

“[Partial ownership of Nord Pool Spot] will enable their participation in the decision-making process, ensuring that the market interests of the respective Baltic countries are discussed and accommodated,” it said.

The parties signed a memorandum of understanding on the purchase of shares in Nord Pool Spot in April.

Once all three Baltic companies are shareholders, existing shareholders Statnett (a  Norwegian state enterprise) and Svenska Kraftnät will each hold 28.2 percent of Nord Pool Spot, and Energinet.dk and Fingrid will both hold 18.8 percent.

Ott Tammik