Published: 2019-04-02 08:59:01 CEST
Energijos Skirstymo Operatorius AB
Notification on material event

Regarding a decision to refuse the appeal filed with the administrative court regarding the decision of the National Commission for Energy Control and Prices on the setting of electricity distribution price caps for 2019

AB Energijos Skirstymo Operatorius (hereinafter – the Company or ESO), identification code 304151376, registered office address Aguonų g. 24, Vilnius. The total number of the registered ordinary shares issued by AB Energijos Skirstymo Operatorius is 894 630 333; ISIN code – LT0000130023.

On 19 November 2018, the Company filed an appeal with the Vilnius Regional Administrative Court regarding the repeal of clauses 1 and 1.7.3 of Resolution No. O3E-334 of the National Commission for Energy Control and Prices (hereinafter – NCC) of 17 October 2018 “On the Recalculation of Price Caps of Services of Distribution via Medium and Low Voltage Networks of AB Energijos Skirstymo Operatorius for 2019” (hereinafter – Resolution) and the NCC’s obligation to take action.

Given the facts that during the period from the filing of the appeal with the court, the NCC provided an explanation that the LRAIC accounting model (long run average incremental costs) has been applied and will be applied in the future (regulatory environment has not changed), that the correction adapted during the setting of electricity distribution price caps for 2019 will be evaluated in near future regulatory period, and that an independent auditor’s report was received on the Company’s financial statements for 2018, the Board of the Company has adopted the decision to refuse the appeal.

More information: Representative for Public Relations of AB Energijos Skirstymo Operatorius Tomas Kavaliauskas, tel. +370 61751616, e-mail. tomas.kavaliauskas@le.lt.