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Litgrid results for 2020: increased revenue and system reliability indicators

Lithuanian electricity transmission system operator Litgrid in 2020 received more revenue and earned higher profits, ensured more reliable supply of electricity to the consumers. Despite the challenges of the pandemic, another two synchronisation projects were implemented.
"Last year Litgrid was successful both financially and in terms of achieving company targets . Although Covid-19 posed challenges in various areas of activities, highly focused Litgrid team achieved good results. Reduced technological losses, higher congestion revenues and better reliability of electricity supply show that the transmission system is managed and maintained efficiently. Regarding the most important projects, last year we opened the new System Management and Data Centre, which will become not only the headquarters of Litgrid, but also the place from where the frequency of the Lithuanian electricity system will be controlled after synchronisation. We have also completed two projects of special national importance necessary for connecting to the Continental European Network", says Vidmantas Grušas, acting CEO of Litgrid.
In total, 3 out of 14 synchronisation projects of special state importance have been completed so far: the expansion of the 330 kV Bitėnai transformer station was completed in 2019; In June of 2020, the construction of the 110 kV overhead line Pagėgiai–Bitėnai, and in December of the same year, the reconstruction of the 330 kV overhead line Lietuvos E–Vilnius. At the end of the year, Litgrid, together with other transmission system operators in the Baltic states and Poland, secured the record funding of 720 million euros for the second stage of the synchronisation project.
In 2020, Litgrid also performed a partial technological test of isolated operation of the Lithuanian electricity system and shortened the connection process for electricity providers and large consumers to the grid on average from 30 to 22 months (with the possibility to do it in less time).
System reliability indicators exceeded targets
In accordance with the international practice, Litgrid measures the reliability of the system using two main indicators - the average interruption time (AIT) and the amount of energy not supplied (ENS). In 2020 both of these indicators were better, i.e., lower than in 2019.
AIT amounted to 0.177 min, while in 2019 the indicator was 1.13 min, whereas the ENS amounted to 5.251 MWh, while in 2019 it was 32.337 MWh. The company's targets for 2020 are that the AIT will not exceed 0.29 min and the ENS will stay under 6,300 MWh.
Electricity transmitted for the country's needs in 2020 amounted to 10.1 TWh, 2% less than in 2019, when 10.3 TWh was transmitted.
Import and export flows of the interconnectors with Sweden and Poland NordBalt and LitPol Link increased by 11 percent. The total availability of interconnectors was 95.6 and 92.4 percent, respectively. In comparison, the availability in 2019 was 97,6 and 97,9 percent, respectively. The availability of NordBalt decreased in large part due to a failure that happened last June in Sweden, the availability of LitPol Link was affected by scheduled maintenance works.
Revenues and profits increased
According to the unaudited data, Litgrid revenue in 2020 amounted to 208 million euros, 12.3 percent more than in 2019, when it was 185.3 million euros. The company's net profit in 2020 amounted to 27.1 million euros, compared to 4.1 million euros in 2019.
Revenue and profit growth were driven by the higher prices for the transmission and system services, set by the National Energy Regulatory Council, as well as the lower technology losses due to the lower energy prices and more efficient system management.
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