Riga, 2014-12-03 13:11 CET (GLOBE NEWSWIRE) -- On December 1, 2014 Vilius Juraitis started to fulfil his duties in the Management Board of Elektrum Lietuva, UAB after being selected in a competitive recruitment procedure. Vilius Juraitis has an extensive experience in an executive position, which he has gained by working as a Chief Executive Officer at Cherry Media since 2010. Vilius participated in start-up and development of Cherry Media that is currently the leader of e-commerce in Baltic region.
Due to the mentioned changes, the Management Board of Elektrum Lietuva, UAB consists of two Management Board members now – Gatis Junghāns and newly elected Vilius Juraitis, who will fulfil Chairman of the Management Board duties.
Vilius Juraitis, Chairman of the Management Board of Elektrum Lietuva, UAB: „The competition for business clients among independent suppliers is increasing. Nevertheless it is important to take into account the approaching opening of the household customer market. We will continue to develop our offer and will follow changes in the market, which is developing and broadening not only in Lithuania, but in all region, thus strengthening our competence and position in Lithuania. We are working purposefully to be ready for the opening of the household customer market in Lithuania. The number of our customers in Lithuania is increasing that proves that we are considered as reliable and stable partner with a convenient customer service.”
Elektrum Lietuva, UAB is AS Latvenergo 100% owned subsidiary, which is engaged in electricity supply in Lithuania.
Due to focused electricity trade activities the total electricity volume supplied by Latvenergo Group abroad in 9 months of 2014 has been increased by 47% and comprises more than one-third of retail electricity supply. The number of customers in neighboring countries reached nearly 34 thousands.
Latvenergo Group market share exceeds one-third of the Baltic electricity consumption - retail electricity supply has been increased by 7% compared to the respective period last year and is 6,477 GWh. Latvenergo Group electricity supply volume in Latvia was 4,109 GWh, in Lithuania – 1,393 GWh and in Estonia – 975 GWh. Most significantly electricity supply increased outside Latvia – in 9 months of 2014, the electricity supply volume in Lithuania and Estonia has been increased by 47% and comprises more than one third of retail electricity supply.
Additional information:
Jānis Irbe
Group Treasurer
Phone: +371 67 728 239
E-mail: investor.relations@latvenergo.lv
About Latvenergo
Latvenergo Group is a pan-Baltic energy company, engaging in electricity and thermal energy generation and supply, electricity distribution services and management of transmission system assets. Latvenergo Group holds one-third of the entire Baltic electricity market, thus ensuring its leadership in the Baltic electricity supply. Latvenergo AS has been acknowledged as the most valuable company in Latvia for several years in a row. International credit rating agency Moody’s has assigned Latvenergo AS an investment-grade credit rating of Baa3/stable.
Latvenergo Group includes the parent company Latvenergo AS (electricity and thermal energy generation and supply) and its subsidiaries Latvijas elektriskie tīkli AS (management of transmission system assets), Sadales tīkls AS (electricity distribution), Elektrum Eesti OÜ (electricity supply in Estonia), Elektrum Lietuva UAB (electricity supply in Lithuania), Enerģijas publiskais tirgotājs AS (administration of electricity mandatory procurement process) and Liepājas enerģija SIA (electricity and thermal energy generation and supply), as well as Elektrum Latvija SIA (electricity supply), a subsidiary of Elektrum Eesti OÜ.