On 23th of June 2020 the Estonian Competition Authority, Public Utilities Commission of Latvia and National Energy Regulatory Council of Lithuania signed a Memorandum of Understanding (MoU) concerning the Baltic Energy Regulators' cooperation on Electricity Market Development. The purpose of this MoU is to facilitate cooperation and coordination between Baltic national regulatory authorities in the electricity sector in order to develop a competitive, flexible, secure and environmentally sustainable and properly functioning internal electricity market in the Baltic states through support and application of joint measures, exchange of information and experience in regulation ensuring its full integration into the European Union's internal electricity market.
The main scopes for cooperation:
• to establish the Baltic Regulators' Electricity Market Coordination Group (BREMCG) among the national regulatory authorities of the Baltic states;
• to give practical effect to the implementation of the Clean Energy Package, European Union Network Codes European Green Deal Package and other electricity market related European Union regulations;
• to work towards harmonisation of the electricity market regulatory framework in the Baltic states;
• to work on common legal framework in the field of demand side response processes;
• to work on evolution and development of the balancing market.
