RIGA – Baltic power transmission operators – Augstsprieguma Tikls (Latvia), Elering (Estonia) and Litgrid (Lithuania) – have signed an agreement on launching operations of a Baltic balancing market as of January 1, Augstsprieguma Tikls representatives reported.
The company’s board chairman Varis Boks said that the goal of the Baltic balancing market is to increase security of power supply system, promoting availability of balancing resources and reducing balancing costs. The equal terms in the three Baltic markets will promote competition among participants in the region, ensure efficiency of prices and welfare of consumers.
Information on the operations of the Baltic balancing market wil be available on the internet website https://dashboard-baltic.electricity-balancing.eu/.
Work on the Baltic balancing market and integration of the Baltic states in the European market was started in 2009 when the Baltic Energy Market Interconnection Plan was adopted.