Litgrid Group reported LTL 124.5 million in revenue for January-March 2012, which is an increase of 14.7% compared to January-March 2011 when it was at LTL 108.5 million.
2012 May 23
Dividend Payment Procedure for 2011
At the ordinary general meeting of Litgrid AB (company code 302564383, registered address: A. Juozapavičiaus St. 13, LT-09311), convened 30 April 2012, the shareholders decided to distribute the Company's profits for 2011 and pay 0.775 litas per share in dividends.
2012 May 23
Draft Government resolution on Litgrid unbundling submitted
On 23 May 2012, the draft Government resolution “Regarding the Establishment of a Private Limited Company and the Investment of State Assets”, prepared by the Ministry of Energy, was announced through the Lithuanian Parliament information system of legal acts. The legislation is aimed at creating the conditions for the completion of splitting the electricity transmission business from commercial electricity production and supply activities.
2012 May 18
The latest "Energy Update" issue
2012 May 2
Assessment of Lithuanian and European Electricity Systems Interconnection Underway
The price of redirecting the electric energy system westwards, economic benefit for Lithuania and the most viable ways of the interconnection with the European electricity grids will be presented in a new Feasibility Study in a year and a half. A corresponding agreement was signed earlier this week by the Baltic electricity transmission system operators Litgrid (Lithuania), Augstsprieguma Tikls (Latvia), Elering (Estonia) and Sweden’s Gothia Power AB.
2012 April 26
Government Authorises Litgrid to Implement Synchronisation with the European Continental Electricity Network
The Government has authorised the Lithuanian electricity transmission system operator Litgrid to implement the Lithuanian electric energy system synchronisation with the European Continental Network (ECN). The country’s electricity system synchronisation with the European electricity system is the strategic goal of the Lithuanian energy sector.
2012 April 16
Invitation to introductory seminar
Nord Pool Spot is pleased to announce that at an important step in the Baltic Energy Market Interconnection Plan (BEMIP) implementation process took place on 26 March, when Litgrid and Nord Pool Spot signed the Lithuanian Power Exchange operation agreement. According to the agreement, Nord Pool Spot will become the operator of the Lithuanian power market from June 18, 2012. Nord Pool Spot will from this date offer day-ahead power trading in the Lithuanian market and introduce an intraday market at a later stage.
2012 April 11
Tender Winner Announced for the Feasibility Study of Baltic States’ Interconnection with European Continental Network
In the beginning of May, Lithuanian electricity transmission system operator Litgrid is set to sign an agreement with a Swedish company that won the international public tender for a feasibility study regarding the Baltic States’ integration into the EU’s internal electricity market and implementation of possible interconnections. The lowest bid tender for the preparation of the feasibility study was won by the Swedish company Gothia Power AB. A total of three suppliers have submitted their applications for the participation in the tender.
2012 April 10
The latest "Energy Update" issue
2012 April 6
Litgrid Obliged to Implement Activity Separation Plan by 1 October
Lithuanian electricity transmission system operator Litgrid has been obliged to carry out all the necessary activities in order to implement the provisions of the Law on Electricity regarding the unbundling of electricity transmission activity from the vertically-integrated company group by 1 October 2012. The National Control Commission for Prices and Energy (NCCPE) has indicated that the electricity transmission network operator has to be unbundled according to the requirements of the European Union's Third Energy Package. Litgrid’s controlling interest is currently held by the vertically-integrated group of Visagino Atominė Elektrinė UAB.
