On adopted Resolution of the Court Elektrėnai, Li

Elektrėnai, Lithuania, 2016-12-06 08:00 CET (GLOBE NEWSWIRE) -- Lietuvos Energijos Gamyba, AB, company code 302648707, registered office at Elektrinės st. 21, Elektrėnai (hereinafter referred to as the Company). The total number of registered ordinary shares issued by company is 635 083 615, ISIN code – LT0000128571.

Company informs that on 5 December, 2016 Vilnius Regional Administrative Court (the Court) satisfied Company’s claim and dismissed Resolution No O3-941 of 19 December 2014 of the National Commission for Energy Control and Prices (the Commission) “On the amendment of Resolution No O3-840 of 17 October 2014 of the National Commission for Energy Control and Prices “On the establishment of the funds and the price of services of general interest for 2015” (the Resolution) (provisions No. 2, 4 and 5).

The Company would like to remind that the Commission by this Resolution decided to reduce the funds for the Company for 2015 for the provision of the public service obligation (PSO) – the production of electricity, which is vital for ensuring the security of electricity supply. During 2015 total amount of 5.4 million EUR of PSO funds was not recognized as revenue in the Company’s statement of comprehensive income.

This decision of the Court is not final and subject to appeal.

         Valentas Neviera, Head of Corporate Communication Division, tel. +370 670 25997, e-mail. valentas.neviera@le.lt