The business operations of Inter RAO in the Baltic States were terminated
As of today, Inter RAO and its subsidiaries are unable to trade on the Nord Pool day-ahead electricity exchange due to having been sanctioned in relation to the Russian invasion of Ukraine. This means that the company is unable to sell electricity to the Lithuanian and Latvian pricing areas. Likewise, Inter RAO Eesti, a subsidiary of the company, is no longer able to operate in Estonia as an electricity trader.
Inter RAO Eesti had approximately fifty business customers on the Estonian electricity trading market. Sale of electricity to them will continue via the network operator on the basis of the price of balancing energy or the price of the universal service, depending on the customer group. This means that no consumers will face a lack of electricity. Elering has also communicated the respective information to the related network operators and all customers affected by the interruption of open supply are able to choose a new electricity trader with the contract commencing as of 12 a.m. of the day following the entry into the new contract.
Inter RAO has thus far sold Russian electricity to the Latvian and Lithuanian pricing areas as a market participant in the day-ahead electricity exchange. Inter RAO was no longer able to propose offers on the market for tomorrow.
Commercial transmission capacities from Russia to Latvia and Lithuania have gradually decreased from 1,300 megawatts to 300 megawatts in recent years. Commercial electricity transmission to Latvia was terminated at the beginning of this month, with the Lithuanian pricing area (with a capacity of up to 150 megawatts) being the only one still receiving Russian electricity.
Inter RAO also sold electricity to the Finnish pricing area, but this commercial transmission was terminated on the same grounds a week ago.