Lietuvos Energijos Gamyba : Regarding the agreement on tertiary active power reserve

Lietuvos energijos gamyba, AB
Notification on material event

Regarding the agreement on tertiary active power reserve

Elektrėnai, Lithuania, 2017-12-22 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.

The Company, in accordance with the decision of the board of the Company of 22 December 2017, concluded an agreement with the electricity transmission system operator of Lithuania LITGRID AB regarding the purchase and sale of the tertiary active power reserve.

LITGRID AB announced the final results of the auction of the tertiary active power reserve, according to which the service of the reserve intended for voltage control in the 330 kV transmission network and for restoration of the secondary emergency power reserve (hereinafter referred to as the Reserve) will be provided in 2018 within the scope of 260 MW by the combined cycle unit of the Company, on 21 December 2017.

According to the resolution of the National Commission for Energy Control and Prices of 19 December 2017, the price of the reserve service in 2018 comprises 17.06 EUR/MW/h, including 12.87 EUR/MW/h for covering fixed costs according to the return on investment in compliance with the reasonableness criterion, and 4.19 EUR/MW/h for covering the costs of the additional natural gas supply safety component of the natural gas transmission price.

More information about the auction and its results is available on the website of LITGRID AB (in Lithuanian): http://www.litgrid.eu/index.php/naujienos-ir-ivykiai/naujienos/skelbiami-tretinio-elektros-galios-rezervo-aukciono-rezultatai/3781.

Valentas Neviera, Head of Communication Division, tel. +370 670 25997, e-mail. valentas.neviera@le.lt