VILNIUS, May 31 (LETA--BNS) - The Baltic power transmission system operators are considering terminating their contract with Inter RAO Lietuva, an electricity supplier that is suspending its operation due to the existing sanctions for Russia, and no longer pay it for the residual imbalance it supplies, Estonian TSO Elering has confirmed it to BNS.
"It is true that there is a discussion over whether to stop the payments to Inter RAO and Elering is definitely ready to stop the payments whenever there is an official agreement on the matter. () Discussions are being held among the three Baltic TSOs," Elering told BNS.
Meanwhile, Lithuanian TSO Litgrid told BNS that, as a listed company, it does not publicly comment on changes to contracts before they have taken place.
Under the 2014 contract, the three Baltic TSOs pay Inter RAO Lietuva for the residual imbalance provided by Russia. Such a service is provided because the Baltic countries are still operating within the so-called BRELL ring and the Russian transmission grid operator provides primary frequency management.
The contract runs until the end of this year, but sources have told BNS it could be terminated as of 1 June.
On May 27, Lithuania's National Energy Regulatory Council (VERT) suspended Inter RAO Lithuania's electricity import and independent supplier licenses until 26 June. If the company fails to prove by then it's financially capable of continuing its operation, VERT will revoke the licenses.