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Intraday market Elbas for Latvia and Lithuania in 2013

Intraday market Elbas for Latvia and Lithuania in 2013

Nord Pool Spot is pleased to announce that its leading intraday market, Elbas, is planned introduced in both Latvia and Lithuania by the end of 2013.  This completes Nord Pool Spot’s long term goal of creating a modern and integrated Baltic power market connected to the Nordic region.
Elbas is well established as a successful and accepted intraday system in the Nordic region, as well as Estonia. It has a proven track record in the German market, and is the preferred intraday system used by APX in the BeNe markets. The introduction of Elbas in Latvia and Lithuania completes the Baltic region’s power market, and connects all members within and across the borders of the Nordic, Baltic, Benelux and German intraday markets.
Commenting on the approaching launch of Elbas in Latvia and Lithuania, Nord Pool Spot CEO Mikael Lundin said: "Nord Pool Spot is pleased to confirm our plan to launch an intraday market in both Latvia and Lithuania. The proven track record of Elbas will ensure the establishment of a robust and trustworthy intraday system which can rapidly deliver an efficient intraday market and create a modern, competitive environment for the trading of Baltic power.”
Elbas is a continuous cross-border intraday market where adjustments to trades in the day-ahead market, Elspot, are made. Elbas plays an important complementary role in creating an efficient power market, as a variety of European counterparts trade power contracts comprising different power sources, close to delivery hour.
Elbas was launched in 1999 and has, during its 14 years of operation, been continuously developed to meet the specific needs of pan-European markets.
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