Lietuvos energijos gamyba, AB - Notification on material event

On adopted Resolution of the Court

Elektrėnai, Lithuania, 2014-11-19 15:30 CET (GLOBE NEWSWIRE) -- “Lietuvos
energijos gamyba”, AB (company code 302648707, registered office at Elektrinės
st. 21, Elektrėnai, the Company), informs that on 18 November, 2014 Vilnius
Regional Administrative Court accepted the Company's appeal on the resolutions
of the National Commission for Energy Control and Prices „On the approval of
the price caps for 2015 of the AB “Lietuvos energijos gamyba” services of
electricity power reserve security“, dated 17/10/2014, No. O3-852 and “On the
approval of the purchase price for the 2015 of the electricity power generated
in the Lithuanian power plant owned by the AB “Lietuvos energijos gamyba”“,
dated 30/10/2014, No. O3-866. 

Both these resolutions implement resolution of the National Commission for
Energy Controls and Prices „On the results of “Lietuvos energijos gamyba”, AB
audit” (the Appealed resolution), dated 30/09/2014, No. O3-818, which is
appeled by the Company to the Vilnius Regional Administrative Court. As it was
stated in the notification on material event of the Company, dated 31 October,
2014,  by the Appealed resolution the National Commission for Energy Controls
and Prices 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 calculations of the investment return laid down in
the resolutions are incorrect and wrong. In addition, taking into consideration
that the abovementioned resolutions implement the Appealed resolution, these
resolutions are unsubstantiated and unlawful. 


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