OREANDA-NEWS. On October 24, 2008 The Board of Lietuvos Energija reduced electricity transmission price, announced on September 30, this year, by 10 per cent, i.e. from 3.84LTC/kWh to 3.45LTC/kWh, reported the press-centre of Lietuvos Energija.

The price will come into effect since January 1, 2009, subsequent its approval by National Control Commission for Prices and Energy.

“While submitting the previous pricing draft to National Control Commission for Prices and Energy, the company did not have any information about other transmission price components – price volumes of public obligation services and additional (capacity reserving) services”, - says Mr.Darius Masionis, General Director of Lietuvos Energija. According to him, following a discussion with National Control Commission for Prices and Energy, it was resolved to seek and find possibilities to reduce the price of service.

Lietuvos Energija strives to ensure a reliable electricity supply to Lithuanian consumers and a stable operation of the power system by investing not only in rehabilitation and renovation of functioning power facilities, but also by implementing new projects of national importance – construction of power links with Poland and Sweden, interconnection with UCTE.

The electricity transmission tariff’s share in the final price paid by consumer for the consumed electricity is rather small – just about 10 per cent. Therefore, an increase in this tariff does not make any big influence to the growth in electricity price.

Lietuvos Energija AB is a subsidiary of the national investment company LEO LT AB, which performs functions of electricity transmission grid (110-330 kV voltage) owner, system operator and market operator.