Vilnius, Lithuania, 2014-10-30 16:39 CET (GLOBE NEWSWIRE) -- The National Commission for Energy Control and Prices instructed Litgrid to adjust the prices for electricity transmission services provided to Litgrid customers, approved by the Litgrid Board, within ten calendar days. The prices should not exceed the price cap for the transmission service of 1.858 ct/kWh (0.538 euro ct/kWh), approved by Resolution No. O3-822 of the Commission of 30 September 2014 “On recalculation of the price cap for the transmission service provided by Litgrid AB for 2015”. Upon Litgrid’s failure to comply with this instruction, the Commission shall unilaterally set the following prices for Litgrid’s electricity transmission services as of 1 January 2015: the average transmission service price of 1.858 ct/kWh (0.538 euro ct/kWh) and the systemic services price of 0.32 ct/kWh (0.093 euro ct/kWh).
Litgrid does not agree with the price cap for the transmission service as set by the Commission for 2015; on 24 October 2014, after the price cap for transmission services was announced by the Commission, it filed an appeal with Vilnius Regional Administrative Court regarding the repeal of Resolution No. O3-817 of the National Commission for Energy Control and Prices of 30 September 2014 “On the change of the regulation period of the price cap for the transmission service via high-voltage power grids provided by Litgrid AB” and Resolution No. O3-822 of 30 September 2014 “On recalculation of the price cap for the transmission service provided by Litgrid AB for 2015”. According to Litgrid, unlawfully extending the 2011–2013 regulation period to the year 2015, the Commission has not considered the following: a) the essential costs of the regulated activities of Litgrid for 2015, b) the weighted average cost of capital (WACC) for 2015, calculated and announced by the Commission, and c) the provisions of the Description of the Principles of Setting the State-regulated Prices in the Energy Sector, approved by Resolution No. 1026 of the Government of the Republic of Lithuania, regarding the asset value of which the return on investment is calculated.
Laura Šebekienė
Communications Manager
Ph. + 370 693 65377,
Email: laura.sebekiene@litgrid.eu