Ukraine Gate- Kyiv – May 22, 2022 – The Nord Pole Stock Exchange has stopped trading in Russian electricity from its sole importer in the Baltic states, the Interrao group of companies, meaning that Lithuania’s electricity needs will be met by domestic production and imports through existing connections with Sweden, Poland and Latvia.
According to the Lithuanian electricity transmission system operator, imports from the above countries accounted for 83% of all electricity imports into the country last year, while Russian electricity purchases in the country have declined in recent years.
Lithuanian Energy Minister Dainius Kreves said that this is an important milestone on Lithuania’s path to energy independence, and this is an expression of our solidarity with Ukraine, which is at war, because we cannot allow our money to finance the Russian military machine.
He added that Lithuania will achieve full energy independence when it meets its needs by producing domestic green energy and becomes itself an electricity exporter.
For whom officials and companies in Latvia have not yet commented on Nord Pole’s decision, but some experts have told Delphi that disruptions in Russia’s electricity supply should not affect the country’s energy sector, because Latvia currently produces more electricity than it consumes, and the amount of electricity Russia provides is small relatively.
Estonia also confirmed that its subsidiary of the company can no longer operate as an electricity source in Estonia.
