LITGRID AB - Notification on material event

Nord Pool Spot to Launch Bidding Area in Lithuania

Vilnius, Lithuania, 2012-03-26 16:07 CEST (GLOBE NEWSWIRE) -- Lithuanian
electricity transmission system operator Litgrid and Europe's leading Nordic
power exchange Nord Pool Spot signed an agreement in Vilnius today, according
to which Nord Pool Spot bidding area will be launched in Lithuania as of 18
June. 

“We have made a very important step in implementing the Baltic electricity
markets interconnection plan: the Nord Pool Spot power exchange will start
operating in Lithuania. We are on our way to the united and transparent Nordic
electricity market and the common European market,” said Minister of Energy of
the Republic of Lithuania Arvydas Sekmokas. 

The introduction of the Nord Pool Spot bidding area in Lithuania is very
important for the country on its way to become a part of the Baltic and Nordic
electricity market and join the entire Europe's electricity market later. The
new version of the Law on Electricity, which came into force in February, has
created legal preconditions for the integration of Lithuania's electricity
market into the Nordic market, and later into the common European electricity
market. Being a part of a large market would in the future ensure a wider
choice for Lithuania in buying and selling electric energy. 

“Nord Pool Spot is an exemplary European power trading system featuring 350
participants from 20 countries. We are glad to be among its first full members.
Experience and professionalism of our partners at Nord Pool Spot allowed us to
prepare for the establishment of a bidding area in a very short time,” said
Litgrid CEO Virgilijus Poderys. 

Nord Pool Spot CEO Mikael Lundin welcomed the decision of the exchange to
launch a new bidding area in Lithuania. “Nord Pool Spot is pleased to announce
our plan to open Lithuania as a new bidding area. Since Lithuania's electricity
law was passed by the country's parliament earlier this year, it is now
possible for us as a power exchange to operate the Lithuanian market. Our long
term goal remains to create a Baltic power market connected to the Nordic
market through Nord Pool Spot,” said Mr Lundin. 

Earlier this year Litgrid (Lithuania), Augstsprieguma Tikls (Latvia), Elering
(Estonia) and Nord Pool Spot signed a Memorandum of Understanding in which the
Baltic electricity transmission system operators (TSOs) confirmed their
intention to participate in the equity capital and the management Board of Nord
Pool Spot. This would ensure a fair representation of the interests of the
Baltic TSOs in strategic decisions regarding the integration and development of
the markets. 

Nord Pool Spot is Europe's leading Nordic power exchange. The group's annual
turnover stood at 316 TWh in 2011. 


         Vilija Railaitė
         Head of Communications
         Phone +370 5278 2361
         Mobile +370 613 19977
         E-mail vilija.railaite@litgrid.eu