OREANDA-NEWS. On 24 March 2009 was announced, that by the beginning of 2010, Lietuvos Energija AB, acting as electricity market operator, will create conditions for electricity suppliers to freely compete within the electricity market in order to ensure the lowest electricity price for consumers.

Lietuvos Energija AB, alongside Government institutions is currently negotiating the terms of electricity supply contracts with potential suppliers. Such suppliers include Latvenergo, Eesti Energia and other Estonian generators, Ukrainian and Belarussian power companies, representative of Russia – Energijos Realizacijos Centras (ERC).

As of today Lietuvos Energija has an agreement, valid since 2007, signed with ERC and Inter RAO JES regarding electricity supply until 2015. Each year the volumes and prices are revised. Usually, contracts for the upcoming year are made in the second part of the concurrent year.

“It has been agreed with ERC and Inter RAO JES regarding the power supply in 2009 during repair works on Ignalina NPP. Currently, negotiations are held regarding electricity supply from 2010, after closure of Ignalina NPP“, – says Mr. Darius Masionis, General Manager of Lietuvos Energija AB. According to him, Lietuvos Energija can also import or export electricity through the Estlink cable from Scandinavian countries, Nord Pool market.

The domestic electricity need from 2010 - 11.5 terrawatthours (TWh). 4-6TWh of this amount will be generated by Lietuvos Elektrine and other national thermal power plants (depending on the market and emission allowances imposed by the Ministry of Energy), around 0.5 TWh – by wind parks and other renewable electricity sources, the rest part is going to be imported.