Baltic National Regulatory Authorities, Nord Pool and Baltic Transmission System Operators met on Monday (August 29th) regarding electricity price hike on the 17th of August and discussed the causes of such deviations.
Estonian, Latvian and Lithuanian Regulatory Authorities agreed to cooperate with Nord Pool in analysing the reasons causing recent price hikes at the power exchange. All the data needed for National Regulators to study the behaviour of market participants and findings from Nord Pool Market Surveillance will be presented to Baltic Regulators. Nord Pool with other NEMOs and with the technical service provider N-Side will study if adjustments of the price calculation algorithm parameters are needed and will present their findings.
On August 17th the electricity price in the Baltic States rose to €4,000/MWh for one hour. Baltic National Regulatory Authorities launched analysis to identify the causes of the price increases.