The adopted Law on Electricity, which comes into effect on 7 February 2012, creates a legal framework for enhancing the development and competitiveness of the Lithuanian electricity market and ensures separation of activities of the electricity transmission system operator from other companies of the national electricity system. The profit rate of electricity companies shall still be regulated by the National Control Commission for Prices and Energy.

 

The law stipulates that a qualified electricity exchange operator registered in the Republic of Lithuania or any other European Union member State and conforming to the requirements set forth in the law is entitled to pursue activities of the electricity exchange operator.

 

The law provides that from now on the Government of Lithuania shall be approving the list of services of public interest (SPI) and the rules for the provision of such services and shall be appointing the SPI fund administrator. So far, these functions belonged to the Ministry of Energy of the Republic of Lithuania.

 

Full text of the law is available from the website of the Parliament of the Republic of Lithuania at www.lrs.lt.