Nord Pool Spot plans to restructure Lithuanian electricity market
Norwegian derivatives exchange Nord Pool Spot and Lithuanian Transmission System Operator (TSO) Lietuvos Energija have announced plans to restructure the Lithuanian electricity market by January 1, 2010.
The Lithuanian market will be based on the same principles as the Nordic power market, where price and flow are calculated at the same time to increase market efficiency.
"The Nord Pool market is one of the most efficient models of electricity trade operating in Europe, and we are geographically close to it so this plan makes sense," says Aloyzas Koryzna, chairman of the board and CEO of Lietuvos Energija.
Nord Pool Spot will provide the systems and services from the Nordic market to the
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