The Baltic transmission system operators (TSOs) AS "Augstsprieguma tīkls", Elering AS, and LITGRID AB have signed the mutual agreement and start the common Baltic power system balancing and common Baltic balancing market operation from 1^st January 2018.

"The objective of the common Baltic balancing market is to increase the safe operation of the power system by promoting the availability of balancing resources and reducing power system balancing costs. The objective is planned to achieve by introducing a common Baltic balancing market with the harmonized market rules in all the Baltic countries. Thus, competition between market participants on regional level will be fostered, which in turn will promote cost efficiency and increase consumer welfare," Varis Boks, Chairman of the Board of AS "Augstsprieguma tīkls", says about the common Baltic balancing market.

In order to achieve the level playing field for the participants of the Baltic balancing market, and to fulfill the requirements of the of the Commission Regulation (EC) 2017/2195 of 23 November 2017 establishing a guideline on electricity balancing, the Baltic TSOs have agreed on harmonized Baltic balancing market rules for balance service providers and imbalance settlement for balance responsible parties.

The actual information and data on the functioning of the coordinated Baltic balancing area and Baltic balancing market operation will be available on the Baltic balancing information website at https://dashboard-baltic.electricity-balancing.eu/.

Work on Baltic integration in the European electricity balancing market started in 2009 with the approval of the Baltic Energy Market Interconnection Plan (BEMIP). The aim of the plan was to provide a comprehensive plan for the establishment of Baltic cross-border interconnections and market integration in the Baltic Sea Region, one of the main tasks of which was to work jointly towards opening, liberalizing and harmonizing electricity market as well as creation of a common balancing market and harmonized imbalance settlement and imbalance pricing.