EPSO-G increased its stake in TSO Holding, the operator of the Nord Pool power exchange

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EPSO-G, group of energy transmission and exchange companies has finished the acquisition of around one third of the shares in TSO Holding and increased its shareholding of TSO Holding to 39.6%. TSO Holding together with other shareholder indirectly operates the Nord Pool power exchange. This allows EPSO-G to continue the implementation of its Strategy 2030 by expanding the activities of the Group and the range of unregulated activities to strengthen Lithuania’s energy independence.

On Wednesday, EPSO-G, UAB acquired 6,066 shares of TSO Holding from a subsidiary company Litgrid for EUR 13.8 million. At the beginning of the current year, EPSO-G instructed Litgrid to acquire two shareholdings of TSO Holding, 18.8 % each (37.6 % in total) from Finnish and Danish energy transmission system operators Fingrid and Energinet, and, subsequently, to sell to EPSO-G the newly acquired shares and the 2% stake in TSO Holding it already held.

According to Robertas Vyšniauskas, the Chair of the Board of EPSO-G, TSO Holding’s strong and stable financial position will strengthen the EPSO-G Group. This in turn will contribute to strengthening Lithuania’s energy independence and the implementation of the energy transformation in the country. According to Robertas Vyšniauskas, the decision to increase the shareholding in TSO Holding was taken in the context of the implementation of the long-term strategy of the EPSO-G Group, which was approved last year, and in the context of the expansion of the Group’s non-regulated activities. 

The remaining shareholding in TSO Holding is held by the Norwegian and Swedish electricity TSOs Statnett (32.2%) and Svenska Kraftnat (28.2%).

TSO Holding is a minority shareholder in Nord Pool Holding, based in Norway, with a 34% stake. Nord Pool Holding owns 100% of the Nord Pool power exchange. Nord Pool provides power exchange services in Central and Western Europe, the United Kingdom, Nordic countries and the Baltic States. The exchange trades electricity and provides clearing and settlement services. The remaining 66% of Nord Pool Holding is held by Euronext Nordics Holding, a European stock exchange group.

The EPSO-G Group consists of the management company EPSO-G, its five direct subsidiaries Amber Grid, Baltpool, Energy cells, Litgrid and Tetas, and the indirectly controlled GET Baltic. On 30 September, the EPSO-G Group had 1 368 employees.

Last updated: 30-11-2022