Baltic Power Markets Opened to New Competition
Wholesale energy buyers in the Baltics now have increased access to multiple power exchange trading platforms.
Updated on Oct. 1, 2026 in Utilities
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Transmission system operators in Latvia, Lithuania, and Estonia have completed the implementation of a multiple power exchange model. This move integrates EPEX SPOT into the Baltic Day-Ahead Market, expanding the trading options available to regional wholesale power participants.
Why it matters
The transition fosters greater competition among exchanges to improve market efficiency and provides participants with broader choice. It aligns regional infrastructure with European Union Capacity Allocation and Congestion Management Regulation.
Latvian transmission operator AST maintains a 68.46% shareholding in Conexus Baltic Grid while participating in this multi-exchange rollout. The model follows the integration of EPEX SPOT into Baltic Intraday Auctions and the continuous intraday market.
The players
EPEX SPOT
A European power exchange that facilitates wholesale electricity trading across multiple national markets.
Nord Pool
A major power market operator providing physical and financial power trading services across European regions.
AST
The Latvian transmission system operator responsible for high-voltage grid management and regional infrastructure coordination.
The details
The implementation allows multiple power exchanges to operate concurrently, shifting the Baltic wholesale market away from a single-provider model. Transmission operators from Latvia, Estonia, Lithuania, Finland, Poland, Slovakia, and Sweden collaborated with EPEX SPOT and Nord Pool to synchronize systems under EU regulations. Market participants can now route trades through either exchange, theoretically increasing price discovery and competitive service levels.
Timeline
November 2025: EPEX SPOT began operating in the continuous intraday market.
8 September 2026: EPEX SPOT began operating in Baltic Intraday Auctions.
30 September 2026: EPEX SPOT officially joined the Baltic Day-Ahead Market.
Market Landscape
The transition follows the framework established by the European Union Capacity Allocation and Congestion Management Regulation. This shift marks a departure from the historical reliance on a single exchange toward a competitive, multi-exchange wholesale environment.
Wholesale power purchasers should monitor liquidity and execution costs across both Nord Pool and EPEX SPOT to optimize procurement. Firms should consult with their energy traders or clearing members to ensure connectivity and contract readiness for the dual-exchange environment.
The takeaway
The move to a multi-exchange model is designed to reduce reliance on legacy providers and capture competitive pricing benefits. Operators should review their current trading platform agreements to ensure they are positioned to capture arbitrage or efficiency gains from the new, expanded market access.
Further reading
For additional context on grid regulation and market shifts, visit the Utilities section.
Source note: This article includes information reported by Baltictimes.
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