Energy, Energy Market, EU – Baltic States, Gas, Gas Market , Lithuania, Markets and Companies
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Friday, 29.03.2024, 16:39
Lithuania's Epso-G sees power grid synchronization and single gas market as key challenges
In its first strategy for the period until 2022, the company
identifies preparation for synchronizing the Baltic electricity grids with the
Western European system and creation of a single gas market as its key
objectives.
Epso-G CEO Rolandas Zukas says that special focus will be
placed on the grid synchronization with the Continental European network.
"The reason we are doing this is that Europe is
predictable and has clear regulations. Things seem to be alright in the East
now, but we have no information as to how they will be," he said.
The European Commission's Joint Research Center is currently
conducting a study on the planned grid synchronization. Preliminary findings
suggest that the best option would be to synchronize the Baltic grids with the
continental European network via Poland. Lithuania, Latvia and Estonia aim to
synchronize their grids by 2025.
The Baltic countries have agreed to create a single gas
market by 2020. This will involve scrapping entry-exit points at the borders to
have the same gas prices in all three countries.
According to Zukas, the single gas market will remain a key
objective for the company.
"Creating a single gas market in the Baltics with a
single entry-exit point is rather challenging. That requires cooperation among
the operators. Our aim is to have a Baltic market operational by 2020," he
said.
In the CEO's words, the creation of a singe market would
help reduce gas infrastructure maintenance costs.
Epso-G is also planning to expand the biofuel exchange
Baltpool and the natural gas exchange Get Baltic. These plans are not new, but
Zukas said on Tuesday that they expected Baltpool to receive a part of its
revenue from Latvia as early as this year.
Baltpool should derive at least 10% of its revenue from
operations outside Lithuania's markets within three years. It is also planned
that the creation of a single Baltic gas market will help Get Baltic to expand
its operations.