Company briefs - 2012-03-08

Estonian and Latvian electricity system administrators Elering and AST and Latvian main grid assets owner LET signed on Friday a memorandum, agreeing upon the next steps of developing a power line between the states, reports National Broadcasting. The states hope that financing from the EU would be gained for the third interstate electricity connection that should be completed by 2020. Eleven percent of the line will be located in Estonia and 89 percent in Latvia. The third connection is necessary as once the EstLink 2 and NordBalt cables will be completed, shortage of transmission capacity is still forecast, said Elering. The new line will increase Estonian-Latvian electricity transmission capacity by 500-600MW. Elering said that if there are no obstacles in planning and environmental effects evaluation, and EU approves of the co-financing decision, the parties will agree upon the next steps.