Elektrėnai, Lithuania, 2017-12-11 16:00 CET (GLOBE NEWSWIRE) -- Lietuvos Energijos Gamyba, AB, company code 302648707, registered office at Elektrinės st. 21, Elektrėnai (hereinafter referred to as the Company). The total number of registered ordinary shares issued by company is 635 083 615, ISIN code – LT0000128571.
Please be advised that the Board of the Company, having assessed the scope of services provided by Lithuanian Power Plant’s units in 2018, the market situation of electricity production and system services, changes in the regulatory environment and prospects, taking into account the opinion of Supervisory Board, on 11 December 2017 decided to terminate the exploitation of unit 7 of Lithuanian Power Plant from 1 January 2018 and to put it into preservation mode.
The unit will be put in preservation mode in such way that under the instruction of LITGRID AB and / or Ministry of Energy of the Republic of Lithuania it would be possible to put it into operation again expeditiously (within a period not exceeding three days).
The Company‘s management plans to assess the impact of the decision on the Company's 2017 financial statements thereafter LITGRID AB will announce final results of the auction for tertiary active power reserve, which is dedicated for the control of voltages in the 330 kV transmission network and for the reconstruction of the secondary emergency power reserve, and National Commission for Energy Control and Prices (NCC) will determine price ceilings for this service for 2018. NCC should also make a decision and confirm the budget for Public Service Obligations for 2018 (for the maintenance of the reserves of the power system in the designated power plants, the activities of which are necessary for the state's energy security).
Valentas Neviera, Head of Communication Division, tel. +370 670 25997, e-mail. valentas.neviera@le.lt