Lietuvos energijos gamyba, AB - Notification on material event

Regarding legal proceedings initiated by the “Lietuvos energijos gamyba”, AB

Elektrėnai, Lithuania, 2014-10-31 15:29 CET (GLOBE NEWSWIRE) -- “Lietuvos
energijos gamyba”, AB (company code 302648707, registered office at Elektrinės
st. 21, Elektrėnai, the Company), informs that on 31 October, 2014 Vilnius
Regional Administrative Court accepted Company's appeal on the resolution „On
the results of “Lietuvos energijos gamyba”, AB audit” (the Resolution), dated
30/09/2014, No. O3-818, of the National Commission for Energy Control and
Prices (the Commission). 

The Commission by this Resolution approved act on audit, dated 19 September,
2014, No. E3-2 and decided to reduce Company's income from the supported
electricity produced in Lithuanian power plant, owned by the Company, by 21.2
million. Lt (6, 14 mln EUR) and to reduce the income from services for ensuring
the security of power reserve by 25.7 million. Lt (7, 44 mln EUR). The
Resolution states that these decisions should be implemented in the period  of 
2015-2016 reporting years. 

The Company finds that the Resolution is unreasoned, contradicts previous
decisions of the Commission on the same issues. In addition, the Commission,
while performing audit, failed to support its audit by the applicable
legislation. Taking this into consideration, the Resolution is unsubstantiated
and unlawful. 


         Valentas Neviera, Head of Corporate Communication Division, tel. +370
5 278 2908, e-mail. valentas.neviera@le.lt