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Turkey / Lithuania

EFT’s focused mainly on developing the industrial clients portfolio, but following the change in energy legislation shifted its customer portfolio towards shopping malls, restaurants, hotels, and various other retail clients. The Group will however move away from the retail market in 2012 and will focus on cross-border trading activities.

Turkey
Population: 72 561 312
GDP (PPP*): $880.061 billion
GDP per capita (PPP*): $12 476
Area: 783 562 sq KM
Market: Semi-liquid
Power exchanges: PMUM

EFT Lithuania commenced its trading operations in November 2010. In 2011 the company traded successfully on the two regional power exchanges, Nordpoolspot and Baltpool. EFT Lithuania has also initiated cooperation with Belarusian State Enterprise “Belenergo” and successfully imported energy from Belarus, which was subsequently sold in Lithuania and Estonia on the day-ahead markets.

Due to the isolated nature of the power industry of the Baltic region from CEE region, the market developments triggered by the Fukushima accident have not had a significant impact on market prices in Estonia and Lithuania. In fact, in comparison to the previous year, 2011 was characterized by lower prices, mostly due to milder winter and summer weather conditions, and extremely good hydrology in the second half of the year in the Nordic countries.

EFT’s strategy in the Baltic region in 2011 was to enhance trading on the two power exchanges, establish necessary contacts with local producers and traders as well as to initiate bilateral trades with counterparties. In 2011, EFT Lithuania’s strategy was to increase its presence in terms of MWh turnover on the regional wholesale electricity market.

EFT’s main objectives in the Baltics is to increase bilateral trades in Lithuania and Estonia, establish and increase cooperation with local producers and to enter the Latvian market in the coming period.

Lithuania
Population: 3 244,000
GDP (PPP*): $35 152 billion
GDP per capita (PPP*): $10 605
Area: 65 200 sq KM
Market: Semi-liquid
Power exchanges: BALTPOOL, NORDPOOL