News & events

2015-06-18

Baltic and Nordic TSOs cooperate in creating a common electricity balancing market

Three Baltic electricity transmission system operators (hereinafter – TSO) Litgrid, Augstsprieguma tīkls,  Elering and Finnish TSO Fingrid, representing  the Nordic TSOs, signed the Terms of Reference (hereinafter – ToR) regarding Baltic-Nordic balancing market development. Following the ToR the common Baltic electricity balancing market shall be created by the end of 2016 as an important step towards the Baltic-Nordic balancing market integration targeted by 2018.
 
After the Baltic electricity balancing markets are integrated in 2016, the balancing services supplied by local energy producers will be expanded to the regional level. It is anticipated that common electricity balancing is anticipated to generate social-economic benefits to the whole Baltic energy system electricity market participants as well as end consumers.
 
The detailed recommendations how to integrate the Baltic and Nordic balancing markets were reported after a comprehensive analysis of Baltic balancing market development opportunities in 2014. This report has served as the background of requirements to draft and specify the signed document.
 
Estonia from 2010, Lithuania from 2012 and Latvia from 2013 joined the Nord Pool “day-ahead” and later - “intraday” electricity markets. As agreed in the Baltic Energy Market Integration Plan (BEMIP) the next steps of the Baltic-Nordic electricity market integration is the establishment of the common balancing power market with harmonised balancing principles and pricing. The harmonisation and integration of balancing markets applicable within Europe will be defined by the Network Code on Electricity Balancing prepared by ENTSO-E (European Network of Transmission System Operators for Electricity).
 
The Feasibility study regarding the Nordic-Baltic balancing cooperation is available on this site here.
 
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