Energy Exemplar today announced that Lithuanian Electricity Transmission System Operator, Litgrid, is joining their global customer base as a new client. A key objective of Litgrid is to facilitate the integration of the Lithuanian electricity system into the European infrastructure and the common electricity market. This goal is in line with the overall plan of all major Baltic states to synchronise with the continental European power market by 2025. TSOs such as Litgrid are working closely with ENTSO-E to become full members.
Litgrid selected Energy Exemplar’s modelling software PLEXOS as the tool to help them plan for, invest in, and implement this transition. It will also help the TSO with other major strategic investment projects and grid reinforcements in Lithuania as well as strengthen collaboration with neighbouring TSOs.
“At Litgrid, we are looking forward to commencing our journey with Energy Exemplar and to using the PLEXOS software to its full capacity for all our Energy modelling requirements. The whole process is much more streamlined when PLEXOS is involved. The benefits spread widely into time savings, quality boost and increased performance of planning as well as handling the increasing complexity of the future energy system.”
- Liutauras Varanavičius, Director of Litgrid’s Strategy Department
Benefits of this new partnership include:
- Aiding investment decisions and long-term planning that could reach up to €60 million annually, while indicating when current power plants would be profitable at the predicted power prices derived from the EMEM within Lithuania;
- Supporting strategic investment projects in Lithuania that will amount to €650 million, including planning grid reinforcements with an additional €615 million investment until 2030;
- Performing flow-based and NTC market coupling as well as stochastic dynamics of hydro reserves and optimising hydropower dispatching, including dispatch under uncertain future inflow rates;
- Direct savings on personnel training and time spent on project evaluation phases;
- Time savings on modelling thanks to the use of Energy Exemplar’s comprehensive Baltic dataset
“We are delighted to have been selected to partner with Litgrid in their mission to integrate into the European power market. PLEXOS has been tested and proven in such scenarios and we are looking forward to playing our part in Lithuania’s energy transition.
We are also excited to support Litgrid with their broad array of modelling challenges, as well as to see their plans to further develop their model in the months to come. PLEXOS will allow them to model flexibility between energy storage during low demand and covering peak demand from storage solutions like pumped hydro, batteries, electric vehicles and power-to-gas (P2X), leading to a substantially optimised Lithuanian power system.”
- Michael Schneider, Senior Vice President, Head of EMEA at Energy Exemplar
About Litgrid: Litgrid, Lithuanian electricity transmission system operator maintains stable operation of the national power system, controls electricity flows and enables competition in an open domestic electricity market. Litgrid is responsible for integrating the national power system into the European power infrastructure and electricity market. The company has built strategic electricity cross-border links, namely, NordBalt (Lithuania-Sweden) and LitPol Link (Lithuania-Poland). While implementing the ultimate goal of Lithuania - independence in energy sector, we promote such values as responsibility, creativity and dialogue.
About Energy Exemplar: Energy Exemplar develops and supports PLEXOS, the market leading integrated energy simulation software. Along with electric power, water & gas datasets, users can digitally replicate real-world energy markets to deliver crucial forecasting. From short-term analysis to long-term planning studies, PLEXOS helps to inform trading, generation scheduling, capacity expansion and market analysis across industry sectors. From their regional HQs including the US, Europe, North and South America and as well as Asia, Energy Exemplar helps 400+ customers, comprising a large share of the world’s top energy market stakeholders, across over 60 countries analyse scenarios for the most accurate outcomes while supporting their organisational and digital transformation.