OREANDA-NEWS. On May 05, 2009 Lietuvos Energija AB, the national electricity market operator, signed a contract with Norwegian company Nord Pool Consulting regarding market development consulting services, reported the press-centre of Lietuvos Energija AB.

Nord Pool Consulting has been working in a highly developed Nordic electricity market as well as other European and global electricity markets and possesses comprehensive experience in the field of design and development of power exchanges.

By the beginning of 2010 the current electricity market administration will be reformed in accordance with the most advanced principles of Scandinavian power exchange, while preparing for changes in electricity market which will result from closure of Ignalina nuclear power plant. “The main goals of the cooperation with Nord Pool Consulting – to promote competition, favorable for the market players, to seek the reduction of electricity prices and to increase the country’s power independence", - says Mr. Darius Masionis, Chairman of the Management Board and CEO of Lietuvos Energija AB.

According to Mr. D. Masionis, the power trade, organized by common principles is one of the key prerequisites for ensuring efficiency and competitiveness of electricity sector and integration within the common electricity market of the EU members.

The cooperation with Nord Pool Consulting will commence from definition of mechanisms for analysis, market environment, structure and legal regulation of electricity market. Subsequent to the analysis of alternatives, an optimal practice of free electricity market development and arrangement will be selected by applying Nord Pool Spot-based principles for arrangement of electricity trade.