Lithuanian electricity transmission system operator Litgrid in 2022 implemented the most important goals of strategic projects in the synchronisation with continental Europe programme, ensured reliable electricity transmission, developed innovations and improved the conditions for the development of renewable energy resources. Due to high electricity prices, the company suffered losses of 49.4 million, according to unaudited data. In response to the situation in the electricity market, at Litgrid's proposal, a part of the congestion management revenues received by the company is allocated to consumers, thereby amortizing the increase in the electricity transmission tariff from the beginning this year.
2022 December 29
Tomas Varneckas elected as the Chairman of the Board of LITGRID AB
Lithuanian electricity transmission system operator LITGRID informs that Tomas Varneckas, Head of Infrastructure of the Energy Transmission and Exchange Group EPSO-G, has been elected as the Chairman of the Board of LITGRID AB in the Board meeting held on 29 December 2022.
2022 December 2
Algirdas Juozaponis, the Chair of the Board of LITGRID AB, decided to leave EPSO-G company group
Algirdas Juozaponis, the Chair of the Board of the Lithuanian energy transmission operator Litgrid, has decided to leave the EPSO-G company group and retire from his position as the Chief Financial Officer of EPSO-G, starting from January 2023. Mr. Juozaponis will continue his office as a Chair of the Board of Litgrid until the selection is completed and the new member of the Board takes up their duties.
2022 November 4
Litgrid 9 months results: high energy prices lead to loss, strategic projects are on track
Lithuanian electricity transmission system operator Litgrid suffered a net loss of €43.5 million in the first 9 months of this year due to high electricity prices. This did not affect the company's consistent implementation of strategic projects of electricity system synchronisation with the continental Europe and ensuring the smooth operation of the electricity transmission system. In response to the situation in the electricity market, Litgrid also proposed to allocate part of the congestion management revenue received by the company to consumers, thus damping the increase in the electricity transmission service price for the next year.
2022 November 3
Baltic Sea Transmission System Operators prepare to manage risks on electricity adequacy
The leaders of the Baltic Sea electricity transmission system operators met in Helsinki on 2nd of November to discuss the energy crisis in Europe and the electricity adequacy of the region.
2022 October 28
Litgrid and Amber Grid are sending aid to rebuild Ukraine's energy infrastructure
As Russia is purposefully destroying Ukraine's energy infrastructure, EPSO-G group companies Litgrid and Amber Grid allocated equipment for the repair of damaged electrical substations and gas pipelines. Assistance to Ukrainian electricity and gas transmission operators will be channelled through the non-governmental organization Blue/Yellow.
2022 October 25
Baltic balancing capacity market: an opportunity for investments in batteries and renewable energy solutions
Lithuanian electricity transmission system operator Litgrid, together with Latvian and Estonian operators Augstsprieguma tikls (AST) and Elering, have calculated that from 2025, when the Baltic balancing capacity market will start operating, the demand for balancing capacity will reach up to 1512 MW. The new market is being created in preparation for synchronisation with continental Europe, after which the Baltic countries will become one frequency control block and order balancing capacity services together.
2022 October 21
Artūras Vilimas, an independent member of Litgrid's Management Board, resigns
Artūras Vilimas, independent member of Litgrid's Management Board, resigned on October 21st 2022.
2022 October 7
To increase competition among contractors Litgrid joins international public procurement platform
Litgrid, the Lithuanian electricity transmission system operator, has joined DevelopmentAid, an international public procurement platform. The new platform will help Litgrid to find international partners and increase competition among contractors as the company plans to invest more than €2 billion in infrastructure and network improvements over the next decade.
2022 September 20
Isolated operation test of the Kaliningrad electricity system to be held over the weekend
Litgrid, the Lithuanian electricity transmission system operator, informs that a planned isolated operation test of the Kaliningrad power system will take place on Saturday, 24 September.
