LITGRID AB - Notification on material event

Litgrid Complies with the Requirements of EU Third Energy Package – the Company Has Been Granted a TSO Licence of Unlimited Duration

Vilnius, Lithuania, 2013-08-27 15:03 CEST (GLOBE NEWSWIRE) -- The procedure for
the certification of Litgrid, Lithuanian electricity transmission system
operator (TSO), was successfully completed today in accordance with the
provisions of the European Union Third Energy Package that obliges the Member
States to separate the electricity transmission operations from the power and
gas generation and distribution. 

Today the Lithuanian State Commission for Prices and Energy Control passed a
resolution stating that separation of Litgrid‘s transmission operations from
those of power generation and distribution companies under the Law on
Electricity has been duly completed and that the company has been appointed the
electricity transmission system operator.A TSO licence of unlimited duration
was granted to Litgrid. 

This resolution means that both the national regulator and the European
Commission have officially recognised that the company fully complies with the
requirements for the separation, transparency and independence laid down for
electricity transmission system operators in the EU and Lithuanian legislation.
The purpose of the EU Third Energy Package is to ensure the maximum efficiency
of the energy market, compliance with the uniform European operating standards,
and reliability of the electricity supply to the EU customers. 

According to Virgilijus Poderys, CEO of Litgrid, “Implementation of the Third
Energy Package will provide market players all over Europe with equal
conditions and opportunities for competing in a free electricity market,
gaining access to power infrastructure without restraint, and making efficient
investment in electricity transmission networks. The fact that a long and
important process of certification of the Lithuanian electricity transmission
system operator has been completed shows that we meet the applied requirements
and are recognised as a transparent, reliable and impartial participant in the
European power system“. 

It should be noted that Lithuania has chosen the most strict model of
unbundling. Currently 19 out of 41 European TSOs are now certified, Lithuania
included. 

The resolution of Litgrid‘s appointment as electricity transmission system
operator will be submitted to the European Commission and the relevant
information will be published in www.regula.lt and the Official Journal of the
European Union. 


         Laura Šebekienė
         Head of Communications
         Ph. + 370 693 65377,
         Email: laura.sebekiene@litgrid.eu