15.03.2012. Independent Transmission System Operator “Augstsprieguma tīkls” sent official application letter to the Nordic power exchange “Nord Pool Spot” CEO Mr. Mikael Lundin regarding preparation work accomplishment in accordance with the relevant EU regulation and willingness to agree on future activities for Latvian electricity market bidding area opening. As soon as Latvian bidding area will be established, each licensed Latvian electricity trader who wishes to buy or sell electricity in Nord Pool Spot by adequate market price will have possibility to do that. Latvian electricity traders before trading need to complete all necessary formalities with TSO “Augstsprieguma tīkls” and Nord Pool Spot.
Nord Pool Spot have two general tasks. First of all is to provide platform for the trade, where electricity traders could sell or buy electricity and secondly to determine and publish a reliable electricity market price. A common electricity power exchange will increase electricity market liquidity and promote competition in the electricity production and create additional conditions for the Baltic States security of electricity supply.
09.03.2012. Independent Transmission System Operator “Augstsprieguma tīkls” submits to the “Public Utilities Commission” the documents to initiate the TSO “Augstsprieguma tīkls” certification process, which is the main precondition for the Latvian bidding area establishment in Nordic power exchange “Nord Pool Spot”.