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 July 5
The latest "Energy Update" issue
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.
2012 June 13
The Dawn of Lithuanian Energy Independence Soon to Break
The Parliament in adopting the Law on Electric Energy System Integration into the European Electric Energy Systems marks a significant momentum for Lithuania in its quest for energy independence and security.
2012 May 30
Convocation of Extraordinary General Meeting of Shareholders of LITGRID AB
At the initiative and by resolution of the Board of LITGRID AB (company code 302564383, registered address A. Juozapavičiaus g. 13, Vilnius), an Extraordinary General Meeting of Shareholders of LITGRID AB is convened at 10.00 on 20 June 2012. The meeting takes place in Room 226 at A. Juozapavičiaus g. 13, Vilnius. The registration of shareholders begins at 09.30 on 20 June 2012 and ends at 09.55 on 20 June 2012.
2012 May 29
Litgrid reports revenue growth in 2012 Q1
Litgrid Group reported revenue of LTL 124.5 million for January-March 2012, or an increase of 14.7% from January-March 2011 when it was at LTL 108.5 million.
2012 May 25
Litgrid reports income growth in 2012 Q1
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
