Energy, Legislation, Lithuania

"Competition will speed up the energy development and supply in the region. Moreover, such a market together with other LEO LT strategic projects will help to ensure coherent electricity supply after the closure of the Ignalina nuclear power plant," Mazeika said.

According to him, the wholesale market trade of the Baltic states may be based on the principles of the Nord Pool market, which has the best practice in Europe. The European Commission has separated the creation of the Baltic electricity market into a single project. The LEO LT representatives are participating in the working group of the European Commission. It is planned that the market will be created in stages analogously in Lithuania, Latvia and Estonia. The plan on the implementation of the single Baltic electricity market will be prepared for the European Commission by July this year, writes ELTA.

Mazeika also called the joining of the Baltic electricity systems with the Western European energy system UCTE, the creation of links with Poland and Sweden, usage of renewable energy sources and the erection of the new nuclear power plant as other priority projects.