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Lithuania Wind Power Begins Trading on Nord Pool Spot Exchange

Jan. 8 (Bloomberg) -- Electricity from Lithuanian wind turbines started trading on the Nord Pool Spot Exchange after the Energy Ministry authorized state-controlled Lietuvos Energija AB to buy up power from local producers.

Trading started today on the exchange, which is owned by Nordic and Baltic transmission system operators, the ministry in the Lithuanian capital, Vilnius, said on its website. Lietuvos Energija’s role is temporary, pending a public tender to choose a permanent wind power intermediary, it said.

“All produced wind power will be offered to the market,” the Vilnius-based company said in on its own website. “That will ensure transparency, encourage the development of a free market and strengthen the role of the exchange.”

Installed wind power capacity in Lithuania may double to 500 megawatts by 2015, the Baltic nation’s wind energy association said in November. The expansion will help the country reduce its reliance on Russian electricity imports and offset a shortfall caused by the closure of nuclear capacity.

Grid operator Litgrid AB said it would publish aggregate Lithuanian wind power production plans daily by 10 a.m. in Vilnius on its website.

To contact the reporter on this story: Bryan Bradley in Vilnius at bbradley13@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net

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