Lietuvos energijos gamyba, AB - Notification on material event

On adopted Resolution of the Court

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