Lithuanian Government Passed Additional Resolutions Regarding Energy Price Compensations

Source: 12/21/2022, Location: Not categorized

AB “Ignitis grupe” (hereinafter – the Group) informs that in the meeting held on 21 December 2022 the Government of the Republic of Lithuania (hereinafter – the Government) supplemented last week’s resolution to compensate prices for the consumers with reimbursement of the regulatory differences accumulated over 2022 by the Group’s Network segment in the amount of EUR 145.39 million. Pursuant to the resolutions of the Government, a total of EUR 291.81 million of regulatory differences will be reimbursed to the Group companies, including the Government’s resolution passed last week on reimbursement of EUR 146.42 million (incl. VAT) to the Networks segment. This will have a positive effect on the Group’s working capital funds.

The aforementioned regulatory differences of the Networks segment have accumulated over 2022 due to the gap between the actual prices of electricity used for technological needs and the ones determined (as well as forecasted) by the National Energy Regulatory Council (hereinafter – NERC).

According to the Government’s resolution, the customers connected to low voltage networks operated by AB “Energijos skirstymo operatorius” (hereinafter – ESO) will be compensated 1.85 ct/kWh (incl. VAT) for the additional component to the electricity distribution service, and customers connected to the medium voltage network – 1.38 ct/kWh (incl. VAT).

According to the Government’s resolution, the funds allocated for the partial compensation of additional components will be paid to ESO and other distribution service operators in December 2022. The state budget funds for the partial compensation will be paid, in accordance with the procedure approved by the Government, to the recipients of these funds by the administrator – ESO, and, in turn, the administrator will be paid by the Ministry of Finance of the Republic of Lithuania in accordance with the procedure set out in the agreement on the use of the state budget funds.

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