Litgrid mission:
Ensure reliable transmission of electricity and enable competition in the open electricity market
Litgrid vision:
Full integration of the Lithuanian power system into the European power infrastructure and the common electricity market
Litgrid Interim Results for the First 6 Months of 2016
Rimantas Busila Chief Financial Officer of Litgrid
Vilnius 26 August 2016
The new power interconnections in operation since the beginning of 2016
LitPol Link
- Litgrid investment: € 108 million
- Power link capacity 500 MW
- Power link availability: 95 %
NordBalt
- Litgrid investment: € 222 million
- Power link capacity 700 MW
- Power link availability: 64 %
Power links impact financial results
- Growth in both income from and costs of balancing and system services
- Increase in grid losses compensated through tariff
- Increase in capital costs compensated through tariff depreciation and net profit from licensed activities
- New type of revenues congestion income
Profitability indicators
• Higher profitability was achieved due to increase in electricity transmission income, new grid users connection and other activities income
Return on equity and assets indicators
• Return on equity is higher than estimated cost of equity, 5,61%
Balance structure, € million
Asset value are carried at the asset acquisition cost less grants received for the acquisition of the asset. If the value of the assets was not reduced by the grants the book value of these assets would be higher by € 289 million
Investments go to system security and reliability
- High level of investment during 2014-2015 due to interconnection projects implementation
- The investments of 2016-2021 period primarily go to grid enforcements and system reliability and security
Key investments to ensure system reliability and security
Litgrid share in tariff structure
- Litgrid share in electricity tariff structure is just 9%
- Investment into the new power interconnections influenced decrease of the commodity price by 22% compared to 2014
Litgrid shares on Nasdaq Vilnius
Authorised capital: € 146,256,100.2 Market capitalisation*: € 357,066,617 Number of shareholders**: 5,545