Over a year has passed since the Baltics disconnected from BRELL and synchronized with the European electricity network. This moment has since triggered some fundamental changes to the national power system, the effects of which are now clearly visible.
We are now operating in a completely new market environment where the new balancing market (the BBCM platform that we delivered for the three Baltic TSOs: AST, Litgrid, and Elering) is no longer just a playground for power plants. Following this change, industrial consumers with flexible processes and energy storage are finding they can turn their energy consumption into a genuine revenue stream and effectively monetize this transition.
Our Business Development Partner for the Baltics and Poland, Dmitrijs Kononovs knows how to do it. This is why, this week, he took the stage at a small, focused event attended by key players from across the Baltics, the Green Tech Cluster Latvia event in Riga with some interesting use cases.
From Consumers to Market Participants
Under the banner “How Can Manufacturing Companies Earn Revenue in the Balancing Market?”, the event included big names like Ignitis, Latvenergo and Enefit and was held in a cozy environment that allowed for close discussions among balancing market participants, traders, and project developers. They all agreed on one thing: that the transition to Net Zero is not possible with generation assets alone.
As intermittent renewables lead to increased price volatility, the market needs some "muscle" to flatten the curve. For manufacturing companies, specifically those in sectors like construction and metalworking who joined us in Riga, this means demand management, energy storage and digitalization are moving from green requirements to high-performing financial instruments.
By integrating assets like batteries or industrial heating into a Virtual Power Plant (VPP), companies can:
Generate revenue by participating in balancing markets like mFRR, aFRR, and FCR.
Cut costs by shifting heavy consumption away from expensive peak periods.
Stabilize the grid through automated, real-time asset control that responds to market signals in seconds.
The Baltic Opportunity
The Baltic region faces a specific set of hurdles: historically high heating prices and a critical need for energy independence. In markets where solar capacity is surging - like Hungary, where it is nearing 8.3 GW - managing flexibility has already become a survival strategy for prosumers.
Dmitrijs highlighted that the business case for Battery Energy Storage Systems (BESS) in the Baltics is particularly strong. Revenue scenarios based on 2025 pricing data place Lithuania, Estonia, and Latvia among the top European markets for ancillary service returns.
Managing Physics with EMoT
But you need a modern setup to connect all those energy dots: This is why a major focus of the Riga presentation was how our EMoT (Energy Market of Things) platform handles the "muscle" side of the equation - physical constraints. This was a major focus of the Riga presentation, where we shared our experience optimizing complex assets like CHP and gas power plants.
For example, we helped a major supplier manage a portfolio of CHP gas engines across multiple locations to participate in the aFRR market.
Our EMoT platform ensures that flexibility is monetized without putting hardware at risk by respecting real technical limits, like synchronization times and minimum runtimes, forced standby and cooldown management, and ramp rates aligned with real technical capability.
By automating the merit order position and re-optimizing the portfolio in real-time if an engine becomes unavailable, EMoT ensures you maintain commitments without breaching technical safety.
Explore the full presentation below for the detailed market data and technical use cases.
