Yesterday, an event “How Manufacturing Companies Can Earn in the Balancing Market? Practical Examples, Cooperation Models and Funding Opportunities” took place at the Verde office complex in Riga. The event brought together entrepreneurs, engineers, and experts in energy, sustainability, and green manufacturing to discuss new opportunities within Latvia’s energy system.

Particular attention was given to the changing electricity market environment following the disconnection of the Baltic energy system from BRELL and its synchronization with the European electricity grid. Discussions focused on how these developments are reshaping the market and what new opportunities they create for industrial companies.

During the event, participants explored practical examples and solutions that enable companies to:

  • use energy storage systems and digital energy management as strategic tools for competitiveness;
  • participate in the balancing market and generate additional revenue from flexibility services;
  • reduce electricity cost risks while supporting climate-neutral production;
  • leverage grid technologies and electrification to support the transition to a low-carbon economy.

The event also presented available support and funding opportunities within the European projects JEWEL and Green Grid, which promote innovation, energy solutions, and climate-neutral development.

We thank all participants, experts, and partners for their active engagement, valuable discussions, and exchange of experience.

The event is organized within the framework of the following projects:

  • Project No. 5.1.1.2.i.0/3/24/A/CFLA/009, implemented with the support of the European Union Recovery and Resilience Facility (NextGenerationEU) under measure 5.1.1.2.i “Support Instrument for Research and Internationalisation”, 3rd call, in accordance with the Cabinet of Ministers Regulation No. 609 of 24 October 2023.
  • Joint nEtWork for European net-zero manufacturing Leadership (JEWEL), Project No. 101236275, implemented under the SMP-COSME-2024-CLUSTER call.

Co-funded by the European Union. The views and opinions expressed are those of the author(s) only and do not necessarily reflect those of the European Union or the European Innovation Council and SMEs Executive Agency (EISMEA). Neither the European Union nor the granting authority can be held responsible for them.