Baltic, Energy, Energy Market

With the members of the new Government of Lithuania, Parts discussed on Monday the emergence of a common transparent electricity market.

In addition to the economic situation in the Baltic region and the economic relations between Estonia and Lithuania, the agenda of the meeting also included energy security issues, developments in most important energy projects and the nuclear power plant issues.

Parts stated that currently problems are caused by the fact that the electricity market in Lithuania is already open while in Estonia the process is still yet to take place at the end of 2012. It was agreed to take decisive steps in establishing rules for supervision and operation of the electricity market. "The efficiency of the market is a very important premise for creating an environment for investments, including guaranteeing investments into infrastructure such as the energy links to Sweden and our Estlink-2," he said.

The parties also discussed the nuclear power plant project. As the new Government of Lithuania is reviewing what has been done in this field thus far, under this point in the agenda, Estonia introduced its vision. "We are still of the position that we need to diversify our energy portfolio," said Parts.