On adopted Resolution of the Court Elektrėnai, Li

Elektrėnai, Lithuania, 2017-01-10 08:45 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.

Please be informed that on 9 January 2017, the Vilnius Regional Administrative Court accepted the Company’s appeal with regard to the repeal of paragraph 1 of Resolution No 03-391 of the National Commission for Energy Control and Prices (hereinafter - the Commission) “Regarding the Setting of Price Caps of Services of Assurance of Electricity Reserve Power of AB Lietuvos Energijos Gamyba” of 29 November 2016 (hereinafter - the Resolution).

In paragraph 1 of the Resolution, costs of Kruonis Pumped Storage Power Plant (hereinafter - KPSP) attributed to the service of secondary emergency power reserve of 2017 are subject to proportionate cost allocation unreasonably and disregarding technical characteristics of the power plant, i.e. two KPSP units with the total power of 450 MW are used in the provision of secondary emergency active power reserve service, however the Company is compensated costs for only 400 MW of power. In the opinion of the Company, the said paragraph 1 of the Commission’s Resolution is unfounded.

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