Lithuanian electricity distribution company LESTO, serving more than 1.6 million customers, aims to improve network reliability and noticeably accelerate connection of the new objects to the grid. These goals are set in the company's strategy for 2014-2020, which was approved by the board.
It is expected that by 2020 the average interruption duration index (SAIDI), including the influence of natural disasters (“force majeure”), will amount to 63.8 minutes per customer, whereas the average interruption frequency index (SAIFI) will reach 0.89 times per customer. In 2013 these figures amounted to 72.7 minutes and 0.97 times respectively.
According to the strategy, LESTO will invest in projects that will increase a reliable and secure supply of electricity, company's value, performance and return on equity (ROE). With ambitious goals LESTO is committed to contribute for Lietuvos Energija group target – to double the value of the group of companies by 2020.
"The 2014-2020 strategy clearly identifies three fundamental strategic directions – to assure the interests of electricity consumers and increase the added value; to enhance the operational effectiveness and to build the value-based organizational culture,” said Aidas Ignatavičius, LESTO CEO and Chairman of the Board. “Consistent implementation of these directions will guarantee a balanced pursuit of the main strategic goal – to enhance the company’s value.”
Assurance of the customers’ interests and an increase of the value added will maintain current customer satisfaction index at 76 points according to GCSI methodology.
Additionally, LESTO intends to considerably shorten and simplify the process of the new customer connection. By doing this LESTO will contribute to Lithuania’s target to become one of the most competitive economies in the world by the ease of Doing Business, index calculated annually by World Bank.
LESTO will strive to achieve Top 30 countries in the world for index component “Getting electricity“. Currently Lithuania is ranked in 75th place by this indicator. LESTO is also committed to continuing social responsibility projects, cooperation with non-governmental organizations, local self-government and academic institutions.
"LESTO has addressed the needs of each Company stakeholder group (Customers, Society, Regulator, Shareholders, Employees, Contractors) separately in this strategy. Ambitious goals will deliver bigger added value for our customers and will contribute to the country's economic progress and higher competitiveness. Finally, our strategy is based on Lietuvos Energija, our shareholder’s, long-term vision to become an energy company of the highest value in the Baltic States," said A.Ignatavičius.
LESTO group consists of subsidiaries Elektros tinklo paslaugos, NT Valdos and associated companies Technologijų ir inovacijų centras and Verslo aptarnavimo centras. LESTO is one of the biggest companies by market capitalization in OMX Baltic securities exchange market.
LESTO is part of Lietuvos Energija Group.
Person for contacts: Representative for Public Relations Martynas Burba, Tel. No (8~5) 251 4516.