Lietuvos energijos gamyba, AB - Notification on material event

On adopted Resolution of the Court

Elektrėnai, Lithuania, 2017-05-22 08:55 CEST (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. 


On 19 May 2017 the Company received Vilnius Regional Administrative Court
decision (dated 18 May 2017) which accepted Company’s appeal regarding
cancelation of the decision of Vilnius Regional Administrative Court dated 19
April 2017. The Company’s appeal was referred to the Supreme Administrative
Court of Lithuania. 


As it was noted by the Company, on 19 April 2017 Vilnius Regional
Administrative Court rejected the Company’s claim on paragraph 1 of Resolution
No 03-391 of the National Commission for Energy Control and Prices “Regarding
the Setting of Price Caps for 2017 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, 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 gets compensation
of costs only for 400 MW of power. 


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