Elektrėnai, Lithuania, 2016-10-18 08:59 CEST (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 on the 17 October 2016 the Supreme administrative court of Lithuania (hereinafter – SACL) announced the decision regarding the appeal of administrative case, which was investigated by the court on the 7th of September 2016 regarding overruling of the judgement made by Vilnius regional administrative court on the 30 of April 2015 and adopting a new verdict.
The Company's appeal was accepted, i.e. SACL adopted the resolution to dismiss Vilnius regional administrative court decision dated 30 April, 2015 and adopted the new decision in the case – accepted the Company’s appeal and dismissed the resolution of the National Commission for Energy Control and Prices “On the results of electricity generation market inquiry”, dated 7 August, 2014, No O3-757 (provisions No. 1.1, 1.2, 1.4, 1.5, 1.6, 1.7, 1.9, 1.13, 3 and 4). The SACL decision is final and not subject to appeal.
The above mentioned resolution of the National Commission for Energy Control and Prices declared the Company as an undertaking having significant market power in electricity generation market. Because of the latter resolution the Company was allocated a reduced amount of funds for public service obligation (PSO) for the years 2015 - 2016. During the period from application of the resolution (1 January 2015) till 30 June 2016 the total amount of 15.3 million EUR of PSO funds was not recognized as revenue in the Company’s statement of comprehensive income
Valentas Neviera, Head of Corporate Communication Division, tel. +370 670 25997, e-mail. valentas.neviera@le.lt