Agreement to Create Common Baltic Electricity Market
ratified in Vilnius on 4 November, 2002
Creating the competitive common Baltic electricity market and having regard the commitments of the Baltic States to comply with the European Union legal acts, and recalling the agreements among the Governments of the Republics of Estonia, Latvia and Lithuania on Co-operation in the Energy Sector, the Baltic Regulators signed the Memorandum concerning common Baltic electricity market. This document was ratified on 4 November 2002 in Vilnius.
The purpose of this Memorandum is to harmonise the principles of the electricity sector regulation in the common Baltic electricity market. The Signatories, Energy Market Inspectorate of the Republic of Estonia, Public Service Regulatory Commission of the Republic of Latvia and State Control Comission for Prices and Energy of the Republic of Lithuania, will seek to harmonise the electricity pricing principles in the market area, to ensure the third party access, to enable the eligible customers to contract with any producer, to make the fair allocation of the cost among the customers, to control the activities of the natural monopolies due to the possible abuses, to encourage the justified investments and to avoid other obstacles for the competition in the market area. The Memorandum signed by the Energy Regulators of the three Baltic States is as the one of the practical steps ensuring equal conditions for all participants of the common Baltic electricity market.
