Elektrėnai, Lithuania, 2017-05-22 08:55 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.
On 19 May 2017 the Company received Vilnius Regional Administrative Court decision (dated 18 May 2017) which accepted Company’s appeal regarding cancelation of the decision of Vilnius Regional Administrative Court dated 19 April 2017. The Company’s appeal was referred to the Supreme Administrative Court of Lithuania.
As it was noted by the Company, on 19 April 2017 Vilnius Regional Administrative Court rejected the Company’s claim on paragraph 1 of Resolution No 03-391 of the National Commission for Energy Control and Prices “Regarding the Setting of Price Caps for 2017 of Services of Assurance of Electricity Reserve Power of AB Lietuvos Energijos Gamyba” of 29 November 2016 (hereinafter – the Resolution).
In paragraph 1 of the Resolution, costs of Kruonis Pumped Storage Power Plant (hereinafter - KPSP) attributed to the service of secondary emergency power reserve of 2017 are subject to proportionate cost allocation, i.e. two KPSP units with the total power of 450 MW are used in the provision of secondary emergency active power reserve service, however the Company gets compensation of costs only for 400 MW of power.
Valentas Neviera, Head of Communication Division, tel. +370 670 25997, e-mail. valentas.neviera@le.lt