Published: 2019-02-20 16:05:00 CET
LITGRID
Notification on material event

Concerning the opinion of the Audit Committee, dated 24 of January 2019

Lithuanian electricity transmission system operator LITGRID AB (Business ID 302564383, registered office address: A. Juozapavičiaus g. 13, Vilnius) informs that the opinion of The Audit Committee of the Holding company EPSO-G, UAB, dated 24 January 2019, was received on the following matters:

  1. Opinion relating to the transaction of purchase and sale of the tertiary active power reserve closed between LITGRID, AB and Lietuvos energijos gamyba, AB dated 20 December 2018.
  2. Opinion relating to the transaction of purchase and sale of additional services and regulatory energy supplied upon the activation of the secondary active power reserve made between LITGRID, AB and Lietuvos energijos gamyba, AB dated 31 December 2018.

Opinion relating to the tertiary active power reserve service concluded between LITGRID AB and Lietuvos energijos gamyba AB on 20 December 2018 (hereinafter referred to as the Tertiary Active Power Reserve Contract):

  1. The conclusion of the Tertiary Active Power Reserve Contract complies with market conditions, since prior to the conclusion of this Contract, a public auction was announced and Resolution No. 03-419 “On establishment of the electricity price caps for the services of ensuring reserve power for 2019 to Lietuvos energijos gamyba, AB” of the National Commission for Energy Control and Prices (NCECP) of 30 November 2018 established the price caps for the services of ensuring reserve power for 2019 to the winner of the auction (Lietuvos energijos gamyba, AB, LEG).
  2. The Tertiary Active Power Reserve Contract is fair and reasonable with respect to all shareholders of LITGRID AB, taking into consideration the objective need for the conclusion of the Tertiary Active Power Reserve Contract and validity of the pricing of this Contract.

Opinion relating to the concluded purchase-sale contract on 31 December 2018, concerning additional services and regulation energy supplied having activated the secondary active power reserve between LITGRID AB and Lietuvos energijos gamyba AB (hereinafter referred to as the Contract for Additional Services):

  1. The conclusion of the Contract for Additional Services complies with market conditions, because the pricing of the Contract for Additional Services does not exceed the price cap for the service of ensuring the secondary emergency active power reserve of Kruonis Pumped Storage Plant, the service of control of reactive power and voltage, established by the NCECP for 2019.
  2. The Contract for Additional Services is fair and reasonable with respect to all shareholders of LITGRID AB, taking into consideration the objective need for the conclusion of the Contract for Additional Services and validity of the pricing of this Contract.

The individual authorised by LITGRID AB to provide additional information:

 Jurga Eivaitė

Head of Communication Division

phone. +370 613 19977

e-mail: jurga.eivaite@litgrid.eu