The European Commission Regulation no. In an open electricity market, prices of electricity as a commodity are not regulated and the price is set in competition between the buying and purchase offers, while at the same time keeping a monopoly on functions related to network infrastructure and system service.
To ensure that an affordable price is sustainable in the long term while also ensuring guaranteed energy supply, electricity producers need investment and legal certainty. Greater transparency and a clear legal framework gives consumers and producers more options to participate actively in the energy market and to react to price signals.
For Elering, this means a need to make efforts to integrate the marketplace with other markets, make decisions about the construction of new cross-border connections, and to create conditions for a functioning electricity market. Market opening The full opening of the Estonian electricity market for all consumers took place on 1 January The aim of the opening of the electricity market is to encourage competition in as many points in the supply chain as possible.
In an open electricity market, prices of electricity as a commodity are not regulated and the price is set in competition between the buying and purchase offers, while at the same time keeping a monopoly on functions related to network infrastructure and system service. Transparency in the electricity market price is ensured by the electricity exchange, where supply and demand determines the daily electricity exchange price.
For producers, the electricity market will provide an opportunity to sell what they generate.
Power exchange One of the most important aims for the energy sector in the European Union is a smoothly functioning single energy market, which is a prerequisite for affordable electricity prices.
A functioning market, along with transparent pricing, will in turn give investors and producers a basis for making long-term investment decisions. For consumers, the electricity market will provide the opportunity to buy electricity according to both the terms of bilateral agreements and from the power exchange.
As a rule, the eligible consumers themselves will not go and trade on the exchange due to high participation expenses, but instead will use the services of existing brokers. Elering as the transmission system operator will have to work towards integrating the domestic market with other markets in the Baltics and Nordics.
This primarily means decisions on the construction of new international connections, and fulfilling the obligations of Elering as the transmission system operator. The most important opportunity presented by the opening of the electricity market is the ability to use market-based solutions for offering network services purchases of reserves, regulation.
Trading In an open market, market participants have the chance to trade through bilateral agreements as well as on the electricity exchange.
The aim of the electricity exchange is primarily to offer market participants engaged in electricity trading short-term planned and standardised trading options to complete their transactions. Compared with bilateral trading, the exchange allows trading on a neutral platform where every market participant has equal access and the counterpart is anonymous.
In addition, electricity exchanges have lower transaction costs than bilateral trading, information on competition and market liquidity is made available, and information on its formation is also submitted. From basic orders to advanced strategies, navigate the complex world of trading with simple-to-use tools—all from the palm of your hand.
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