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CUSTOMERS’ SATISFACTION DETERMINES COMPANY’S VALUE

ELECTRICITY MARKET

Estonian electricity market was opened in 2006 only for industrial consumers and for the period 01.04.2010 until 31.12.2012 Estonian electricity market was opened by 35%. Starting from 01.01.2013 Estonian market has been opened for all market participants in Estonia.

In April 2010 Nordic power exchange (PX) Nord Pool Spot extended to Estonia, creating day ahead (Elspot) price area firstly named “Estlink” (currently Estonia “EE” price area). Since 19.10.2010 Estonia has joined the intraday trading market Elbas.

Expansion of PX Nord Pool Spot to Baltic countries was possible owing to the interconnection with Finland. Today Baltic countries already  have several  interconnections with Nordic countries and Poland. These interconnections, as well as interconnections with Russia and Belarus, give Estonia, Latvia and Lithuania access to a much larger and more diverse electricity markets in different parts of Europe, which enables better prices on the base of strengthening competition.

Estonia itself has a strong production potential, which permits to cover its customers' needs. According to information received from System Operator Elering AS, Estonia is able to cover its own demand by domestic production up to 2023, including years with extremely cold winters accompanying with 10% extra demand.

The great importance for Estonian electricity market development was the fact of implementation of Data Warehouse (Andmeladu), managed by the System Operator Elering AS. The Data Warehouse brings together all needed information regarding electricity sales and network contracts and becomes the Bank of measurement data of all market participants. The big role also played the replacement of non-remotely read electricity meters with the new remotely read meters.

In the near future, Estonian electricity market will be influenced by the joint of Baltic countries’ balance market and Nordic balance market.