On October 28 the Lithuanian power system celebrated its 70th anniversary

Thursday, 29 October 2015

Exactly 70 years ago in October, 1945, the Lithuanian power system was put into operation. The operation of generators at the Kaunas and Vilnius power plants was synchronised after a power line connecting the power plants had been installed, and the balance between power generation and consumption was maintained by the central system control centre, the Lithuanian electricity transmission system operator Litgrid reports.

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Last weekend Lithuania imported nearly 90 percent of electricity

Thursday, 29 October 2015

On 19-25 October, the average electricity price in Nord Pool Spot power market Lithuanian trading zone stood at EUR 51.36 per megawatt hour (MWh). The price dropped by 30 percent compared with the previous week. It was higher by nearly 9 percent compared with the same period of 2014.

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Butkevicius: heating prices will not grow next year if gas capacity model is applied

Wednesday, 21 October 2015

Prime Minister Algirdas Butkevicius says that heating prices will not grow from next year if gas capacity model is applied, whereas in Vilnius they would decrease by 5 percent.

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Latvia and Lithuania could go for joint purchases of American gas

Wednesday, 21 October 2015

On 16 October, the economy ministers of Latvia and Lithuania signed a memorandum of cooperation on the diversification of gas supplies, which foresees the two countries working together in speaking with potential gas suppliers, as well as joint purchases of gas.

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In 2014 state-owned enterprisesaccounted for 3 percent of Lithuania's GDP

Wednesday, 21 October 2015

In 2014 state-owned enterprises (SOE) remained an important part of Lithuania's economy - their input in economy accounted for 3 percent of GDP. In 2014 SOEs earned total revenue of EUR 2.3 billion, which is by 5.6 percent more compared to 2013. Moreover, their normalised net profit increased by nearly 2 percent to EUR 150 million, while their estimated market value grew by 11 percent to EUR 5 billion.

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