Nord Pool Spot is pleased to announce the launch of its European intraday market, Elbas, in Latvia and Lithuania on Tuesday 10 December 2013.
A project team consisting of representatives from the Baltic transmission system operators (TSO’s) and Nord Pool Spot has been responsible for preparation of the complex technical, legal and market related issues around this new Elbas launch.
In recent weeks the Estonian system operator Elering has expressed concern about national regulations affecting the Latvian and Lithuanian day-ahead markets. Elering has also addressed the need to harmonize the balancing market procedures among the Baltic TSO’s.
Until these issues are resolved no capacity will be given to the intraday market on the Estonian - Latvian border. The project parties (Latvian and Lithuanian system operators, Nord Pool Spot) have acknowledged the concerns raised by Elering, and Nord Pool Spot has strongly encouraged the Baltic TSO’s to agree an action plan in order to resolve any outstanding issues prior to the Elbas launch.
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 is well established as a successful European cross-border intraday market in the Nordic region, Estonia and the German market. It is also the intraday platform used in the Belgian and Dutch markets.
About Nord Pool Spot
Nord Pool Spot operates Europe’s leading power markets, offering both day-ahead and intraday trading to its members. 370 companies from 20 countries trade on Nord Pool Spot’s markets in the Nordic and Baltic regions, and on our UK market N2EX. In 2012 the group had a total turnover of 432 TWh traded power. Our markets are operated from offices in Oslo, Stockholm, Helsinki, Copenhagen, Tallinn and London. Nord Pool Spot strives continually to strengthen its business by working with integrity, together with members and stakeholders, to achieve excellence.
Lysaker, 9 October 2013
For further information, please contact:
Stina Johansen, Head of Communications, +47 916 50 603