On adopted Resolution of the Court Elektrėnai, Li

Elektrėnai, Lithuania, 2017-03-08 07:41 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 advised that on the 7 March, 2017 Supreme Administrative Court  of Lithuania (hereinafter – SACL) rejected Company’s appeal and Vilnius Regional Administrative Court decision dated 17 November, 2015 by which Vilnius Regional Administrative Court dismissed Company’s claim on the dismissal of Resolution No. O3-875 of the National Commission for Energy Control and Prices (hereinafter – Commission) of 30 October 2014 “On recalculation of the price components of heat production by Lietuvos Energijos Gamyba, AB, Lietuvos elektrinė” and of Resolution No. O3-934 of the Commission of 11 December 2014 “On unilateral determination of the price of heat production by Lietuvos Energijos Gamyba, AB, Lietuvos elektrinė”, remained unmodified. The SACL decision is final and not subject to appeal.

The above mentioned resolutions of the Commission had unilaterally established price components for heat produced by the Company and supplied to UAB Elektrėnų Komunalinis Ūkis. The Company finds that calculations of the Commission of the return on investment are inaccurate and contradicting the legal acts. Whereas the Company has applied the price unilaterally set by the Commission, therefore the decision of the SACL will not have a direct impact on the Company’s financial results.

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