Energy, Good for Business, Lithuania, Transport

So far it is the biggest deal in the biofuel exchange so. Its worth exceeds the total turnover of the exchange when it operated under older rules by five times.

Baltpool CEO Laura Zalaite said that this transaction occurred because of positive changes in the system of the exchange. The confidence in the exchange started growing after the new trade rules were set and the functional trade system was implemented.

The National Control Commission for Prices and Energy said that in 2012 heating season the weighted average biofuel price was LTL 751 (EUR 218) per toe. Meanwhile, biofuel bought through the energy exchange will be supplied for the 2013-2014 heating season for LTL 690 (EUR 200) per toe.

Main aspects that determine biofuel price are its quality, supply season and delivery location. Highest quality biofuel will reach suppliers in the most marketable period - during the heating season. It will be transported to the region where biofuel prices rise due to the high demand. This explains the relatively higher than the market average transaction price.

Zalaite said that the more participants there will be in the auctions the more transparent biofuel market will become.

Currently 29 companies participate in Baltpool energy exchange.