BALTPOOL is the operator of the Lithuanian Energy Exchange entitled to organise trade of solid biofuel products. The company also acts as the administrator of public service obligations (PSO) funds and is engaged in the collection, payment and administration of PSO funds.
The shareholders of BALTPOOL include two large energy companies – UAB EPSO-G and AB Klaipėdos Nafta. Most of their shares are state-owned. The tasks of BALTPOOL are directly connected with the national objective – to promote competition in the market for energy resources.
Priority activities of BALTPOOL include development of the operation of the Biofuel Exchange and administration of PSO funds.
About BALTPOOL Biomass Exchange:
As the operator of the Energy Exchange, BALTPOOL has the following objectives:
- to improve the transparency and reliability of the solid biofuel sector;
- to promote competition and market development;
- to improve the degree of standardisation of the solid biofuel sector by developing specific rules under which all market participants can compete on equal conditions;
- to improve the effectiveness of trade in raw materials;
- to ensure an effective, transparent and accurate administration of PSO funds.
History of BALTPOOL
The company was incorporated on 10 December 2009, as part of implementation of the Electricity Market Development Plan approved by the Lithuanian Government on 7 July 2009.
- 2009 – Power Exchange operator license obtained.
- 2010 – operation of the Power Exchange started.
- 2011 – Natural Gas Exchange operator license obtained.
- 2012 – operation of the Natural Gas Exchange started.
- 18 June 2012 – organisation of trade in the Power Exchange transferred to the Norwegian market operator Nord Pool Spot according to the new Law on Energy passed by the Lithuanian Seimas on 17 January 2012 and according to the respective agreement of AB Litgrid and Nord Pool Spot dated 26 March 2012.
- 18 June 2012 – Power Exchange operator license withdrawn.
- 27 September 2012 – Energy Exchange operator license obtained. The Energy Exchange operator may engage in centralised trading in biofuel, oil products, natural gas, and auxiliary instruments of protection against electricity price fluctuations.
- 18 June 2012 (until 1 March 2015) – operation of the Lithuanian Exchange of Auxiliary Instruments of Protection against Electricity Price Fluctuations performed. On 1 October 2012, the Biofuel Exchange was launched. The initial model of the Biofuel Exchange was intended for small-scope weekly biofuel contracts finalised in addition to the available bilateral agreements.
- 1 January 2013 – by Resolution No. 1338 of 7 November 2012 of the Lithuanian Government, BALTPOOL was appointed the administrator of the public service obligations funds.
- July 2013 – the model of trade in the Biofuel Exchange was updated to ensure long-term supply of biofuel.