On 27 August Laura Žalaitė, who had previously worked as the Head of the Capital Market department of Finasta Bank and who exercised the functions of a board member of the financial brokerage company Finasta, became a CEO of the Baltpool energy exchange.
2012 August 28
Strategic projects by Litgrid to minimize negative foreign influence on the electricity sector
In the past few years, Lithuania's electricity import accounted for around 70% of the total consumption. The figure shows the country's major dependence on electricity imports. Last week, on 20 August, Russia shut down one of the electricity transmission lines important for the Baltic region, which decreased capacity for electricity import and forced to boost local production.
2012 August 17
Most Powerful Autotransformer in Lithuania Reached Klaipeda
Transportation of a 173-tonne cargo is not a casual event – it is tantamount to a shipping of a fully grown whale. Weighing that much, an autotransformer reached the Klaipeda transformer substation on 3 August. Having been transported for two weeks on a special train platform, the cargo arrived at Rimkai railway station from the Zaporozhye transformer plant, Ukraine.
2012 August 1
LITGRID AB becomes Nord Pool Spot shareholder
The Lithuanian electricity transmission system operator (TSO) LITGRID AB, today (1 August 2012) acquired a 2% share of Nord Pool Spot, Europe’s largest power market.
2012 July 25
Smooth First Month’s Trade at the Nord Pool Spot Power Exchange
It has already been a month since the bidding area of Nordic power exchange Nord Pool Spot has been launched in Lithuania. The average wholesale electricity price at the exchange last month was 16 ct/kWh – just as in June-July 2011. More than 20 participants actively traded at the exchange, and the average daily trade volume amounted to approximately 20,000 megawatt hours (MWh). The month’s trade volume stood at 0.63 terawatt hours (TWh), whereas it totalled 0.7 TWh of electricity this time last year.
2012 July 19
Lithuanian Electric Energy System Network Development Plan up to 2021 Released for Public Consultation
The Lithuanian electricity transmission system operator, Litgrid, has drawn up the Lithuanian electric energy system network development plan for up to 2021 and submitted it to the National Control Commission for Prices and Energy (VKEKK). A public consultation is currently in progress, allowing residents to get themselves acquainted with the plan and to send their comments and suggestions to the VKEKK.
2012 July 13
Procedure of Interconnection to the Electricity Transmission Network Clarified
In an effort to alleviate the administrative burden for business, electricity transmission operator Litgrid has drawn up a unified document intended for electricity producers which contains a detailed explanation of the steps to be taken as a part of power plant interconnection with the electricity transmission network. The interconnection terms and conditions, requirements, and procedures presented in different legal acts are now available in a single document.
2012 July 5
The latest "Energy Update" issue
2012 June 28
Ongoing Power Link Projects Get European Union's Financial Injection
On 27 June 2012, Lithuanian electricity transmission system operator Litgrid and the Lithuanian Business Support Agency (LVPA) drew up an agreement for the allocation of European Union (EU) funds to two projects that are directly related to international power links with Poland and Sweden. Transformer substations in Alytus and Klaipėda, the sites where the construction of the power links LitPol Link and NordBalt will commence as early as in 2013, will be reconstructed. Up to LTL 15 million have been earmarked in EU funds for the reconstruction of both substations. Both reconstruction projects are valued at approximately LTL 40 million.
2012 June 18
Lithuania becomes a part of the Nordic power exchange
On 18 June 2012, Europe's leading Nordic power exchange Nord Pool Spot has launched its bidding area in Lithuania. The Law on electricity that came into force last February and the agreement with Nord Pool Spot concluded in March were the preconditions enabling the establishment of Lithuanian bidding area.
