LITGRID AB - Notification on material event

New Version of the Law on Electricity Comes into Effect

Vilnius, Lithuania, 2012-02-08 07:03 CET (GLOBE NEWSWIRE) -- The adopted Law on
Electricity, which comes into effect on 7 February 2012, creates a legal
framework for enhancing the development and competitiveness of the Lithuanian
electricity market and ensures separation of activities of the electricity
transmission system operator from other companies of the national electricity
system. The profit rate of electricity companies shall still be regulated by
the National Control Commission for Prices and Energy. 

The law stipulates that a qualified electricity exchange operator registered in
the Republic of Lithuania or any other European Union member State and
conforming to the requirements set forth in the law is entitled to pursue
activities of the electricity exchange operator. 

The law provides that from now on the Government of Lithuania shall be
approving the list of services of public interest (SPI) and the rules for the
provision of such services and shall be appointing the SPI fund administrator.
So far, these functions belonged to the Ministry of Energy of the Republic of
Lithuania. 

Full text of the law is available from the website of the Parliament of the
Republic of Lithuania at www.lrs.lt. 


         Vilija Railaitė
         Head of Communications
         Phone +370 5278 2361
         Mobile +370 613 19977
         E-mail vilija.railaite@litgrid.eu