Intensified import of Russian electric energy by baltic countries
Referring to the statement of the vice-president for financial affairs in Esti Energia, Andri Avila, in 2018 Estonia imported a record amount of electricity from Russia, mainly through Lithuania and Finland. Although Russia does not have to take part in the ETS market and take into account the CO2 allowance, it may participate in electricity markets, such as Nordpool. This situation creates unequal competition on the market, and the industry in Europe is "suppressed." According to the Vice-President, the overriding objective of the ETS system is to stimulate the development of renewable energy sources, but what is observed on the EU markets is the increased import of Russian energy originated from fossil fuels. Similarly to the phenomenon of carbon leakage, the import of energy from the neighboring EU states is a phenomenon that indicates the imperfections of the emission allowance system, and the consequence of its implementation is the weakening of the European economy with no reduction of emissions in global terms.