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2013 10 10

Network operators having increased the throughput by one third and “INTER RAO Lietuva” having imported more electric power, the electricity price in the market has significantly reduced

Network operators, who previously restricted electric power import from the third parties, have increased a throughput by almost one third thus causing the increase of supply and competition. This resulted in a significant reduction of electric power price in the market, said AB “INTER RAO Lietuva”.

„Network operators offered an opportunity to import the deficient electricity from the third parties and thus enabled one to increase the supply and strengthen the competition. Today we may already witness a result of such decision – having increased the throughput from the Belarussian side from 0 to 300 MW at daytime the electricity price in the market decreased by almost 25 percent. We hope that such decision of the network operators, which is especially favourable to consumers, shall be a long lasting determination. We also expect that the network operators in their future activity shall encourage rather than restrict competition, which is the very factor enabling one to offer the electricity resources to the customers at the best possible price”, told Vidas Čebatariūnas, the Commercial Director of AB „INTER RAO Lietuva“.

On 9 October 2013, the electricity price at NordPoolSpot Lithuanian area lowered down to LTL 217.66 (in Estonian area it reached LTL 141.08) and on 10 October, it decreased to as little as LTL 180.27 (in Estonian area – LTL 146.78) per 1MWh. We would like to remind that on 1 October, due to actions of the network operators, the electricity price at NordPoolSpot Lithuanian area was as high as LTL 436.16 MWh (compared to LTL 177.75 per 1 MWh at Estonian area, i.e. even LTL 258.41 lower (higher) than Lithuania on the same day). Profit that originated due to such differences remained with operators of Estonian and Latvian systems, while the ones who paid for it were Lithuanian electricity suppliers.    

Earlier this month AB “INTER RAO Lietuva” has informed that in the light of shortage of electricity in the market and high level of prices it could actually guarantee the missing power supply. However such action was prevented by current network operator agreements that restricted electricity import from the third countries, possibly increased electricity shortage at NordPoolSpot Lithuanian area, and most probably led to the price increase.

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