Estonia's established price will converge with the Nord Pool's prices, providing power is able to flow freely and there is an absence of congestion in the market. If capacity problems arise and there is a power shortage in a certain area, the prices will diverge.

According to Nord Pool's acting chief executive officer, Hans Randen, the move is part of the exchange's plans to branch out into new geographies. "The long-term goal is to create a large market where participants in several Baltic