20 May 2022 20:08

Nord Pool to stop trading electricity from Inter RAO on Sunday - ministry

MOSCOW. May 20 (Interfax) - Nord Pool, the pan-European power exchange, has decided to stop trading Russian electricity from its only importer in the Baltic States, Inter RAO , as of Sunday, the Lithuanian Energy Ministry said in a press release.

"Inter RAO has been notified by Nord Pool that trading by subsidiaries will be suspended due to the risk it might not be possible to pay for Russian electricity," an Inter RAO spokesperson told reporters.

Finland has also said it is suspending imports of Russian electricity.

Inter RAO is Russia's only electricity export and import operator. It boosted exports 86.1% in 2021 to 21.77 billion kilowatt-hours, the most for ten years. Supplies to Finland rose 3.1-fold to 8.2 billion kWh, to the Baltic States 37.1% to 4.7 billion kWh and to China 29.9% to 3.97 kWh.