Geton Energy, owners of Lietuvos Energija has joined Nasdaq Commodities OMX exchange in Scandinavia.
The move is part of efforts to expand the wholesale electricity trading portfolio in European markets.
Diana Kazakevič, regional manager of Lietuvos Energija for Poland, said: ‘One of the goals established in the Strategy LE 2030 of Lietuvos Energija is the expansion in the European markets. By strengthening our positions in Poland, we can also expand activities in other European countries; therefore, we start trading on the wholesale market of Scandinavia. This will help diversify our wholesale electricity trading portfolio and expand the geographic coverage of our operations’
Lietuvos Energija started operating in the Polish wholesale market in 2017. The energy company will make use of the experience gained in Poland to expand its business through out the Scandivanian region.
Operations of Lietuvos Energija Group in Poland will continue actively contributing to the development of the plans of expansion in the neighbouring countries. Geton Energy operating on this market was registered in June 2017 and now engages in wholesale electricity business in Poland.
Nasdaq Commodities OMX exchange trades in financial instruments linked with electricity prices in Scandinavia, Germany, Netherlands, UK and Baltic States. This exchange also trades in electricity certificates and derivative instruments of coal, natural gas, fuel oil and marine resources.