On 10 July 2019 Lithuania’s electricity transmission system operator LITGRID AB (business ID 302564383, registered office address A. Juozapavičiaus 13, LT-09311, Vilnius, Lithuania), (hereinafter referred to as the “Company”) concluded the energy savings transfer agreement (hereinafter referred to as the "Agreement") with the company AB “Amber Grid”, company code 303090867, address Savanorių pr. 28, LT-03116 Vilnius, company data stored at the Register of Legal Entities of the Republic of Lithuania. The Company and AB “Amber Grid” are part of UAB EPSO-G group of companies.
Under the Agreement, AB “Amber Grid” transfers gratuitous and LITGRID AB accepts a part of the energy savings (30 875.5 MWh) planned to be saved by the AB “Amber Grid” until the end of 2020. This transaction will not affect the financial results of LITGRID AB
The obligation to save the energy for the Company and AB “Amber Grid” stems from the Energy Savings Agreement signed on 9 October 2017 between the Ministry of Energy of the Republic of Lithuania, UAB EPSO-G, AB “Amber Grid” and LITGRID AB, which provides the possibility to transfer the energy savings of one company to another.
On 7 June 2019 the Board of the Company approved conclusion of the Agreement with AB “Amber Grid”.
UAB EPSO-G audit committee issued an opinion whereby confirm the transaction is in compliance with the market conditions and is fair and justified in respect of all of the shareholders of the Company.
The individual authorized by LITGRID AB to provide additional information on the material event:
Jurga Eivaitė
Head of Communications Division
tel. +370 613 19977, e-mail: jurga.eivaite@litgrid.eu