Vilnius, Lithuania, 2013-11-28 16:54 CET (GLOBE NEWSWIRE) -- Litgrid Group announced revenues of LTL 439 million for the period of January–September 2013, a growth of 22 per cent year-on-year. Revenues from power transmission accounted for 38 per cent of the Group’s total revenues.
The nine-month pre-tax profit of the Group was LTL 34.5 million compared to LTL 19.7 million for three quarters of 2012. The electricity transmission activities’ and system services’ profit, exceeding the limits regulated by the National Control Commission for Prices and Energy, will be considered when setting Litgrid’s revenues for 2015.
Litgrid’s revenues for 2015 could be reduced by the same amount of the profit generated from system and balancing services, which in January–September 2013 amounted to LTL 31 million.
Over the nine months of 2013 the amount of 6.9 billion kWh was transmitted by the electricity transmission system operator Litgrid, a growth of 1.3 per cent.
Litgrid’s investment in nine months of 2013 comprised LTL 93.6 million. 62 per cent of the investment was directed towards the implementation of strategic electricity projects and 38 per cent was allocated for the reconstruction and expansion of the Lithuanian power transmission grid. Litgrid implements Lithuania’s strategic power projects – power interconnections NordBalt and LitPol Link to Sweden and Poland and is responsible for the full-fledged integration of the Lithuanian power system into the European continental grid and the common European electricity market.
Litgrid Group is comprised of the electricity transmission system operator AB Litgrid, energy exchange UAB Baltpool and the provider of electric equipment maintenance services UAB Tetas.
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