Nord Pool Spot Lithuania
The Nord Pool Spot electricity exchange which was launched in Lithuania on 18 June 2012 is a very important step on the path of the electricity market integration. Upon establishing of the Nord Pool Spot Lithuania bidding area, we became part of the Nordic power exchange which is a leader in Europe. This electricity exchange operates in a transparent manner by ensuring same rules and same competition conditions for all participants as well as transparent prices for electricity.
Trading on the exchange is organised according to the day-ahead (Elspot) and intraday (Elbas) principles. According to the day-ahead principle the market participant must buy or sell electricity in advance one day before the date of actual generation and consumption of electricity. In December, 2013 the Nordic and Baltic electricity exchange Nord Pool Spot has opened its Elbas intraday market in Lithuanian and Latvian bidding areas. Trading on the intraday Elbas market takes place until one hour before the delivery of electricity.
The intraday market allows market players to manage the risk of wholesale electricity trade more efficiently and balance the trade of electricity generated from renewable sources.The Elbas intraday market was set up in 1999. It operates in Nordic countries, Estonia and Germany. Intraday markets are also operated by the electricity exchanges of Belgium and the Netherlands. The intraday market accounts for 1-2% of all wholesale electricity transactions on Nord Pool Spot.
