Since January 1st, 2014 Latvian transmission system operator “Augstsprieguma tikls” AS (AST) in cooperation with Estonian transmission system operation Elering AS will apply yearly and monthly sale of Limited Physical Transmission Rights (Limited-PTRs) on the Estonian-Latvian cross-border on direction from Estonia to Latvia. The Net Transmission Capacity between the Estonian and Latvian systems will continue to be distributed by Nord Pool Spot for allocation. At the same time, Limited-PTRs (50 MW for the year and 50-150 MW on a monthly basis) will be sold at an auction with the obligation to sell them back to the system operators (TSOs). For the repurchased capacity, the TSOs will pay the owners of Limited-PTRs a fee equivalent to the price difference of the NPS Estonian and Latvian price area in the corresponding period. TSOs, evaluated financial risks and market situation in period from May 2010 till June 2013 will fix minimal price of the auction.

The first Limited PTR auction will be organised on December 13 2014. The proposal for participating at the auction could be submitted from December 10 2013 till December 13 2013 12:00 (CET)

More information can be found here.