From 01.01.2010, after the closure of the Ignalina nuclear power plant, a free electricity market is functioning in Lithuania, based on the Nordic power exchange Nordpool model in which the wholesale and retail trade in electricity is taking place. Electricity trading at the exchange takes place every day, and the price is formed each hour, depending on the bids for sale and purchase of electricity. Trading electricity at the power exchange is only allowed to registered exchange participants and suppliers who are licensed for this business.