Litgrid AB — Capital/Financing Update 2011

Jul 29, 2011

Disclosure 288547

LITGRID AB - Notification on material event

NordBalt Funding Sources Approved

Vilnius, Lithuania, 2011-07-29 10:20 CEST (GLOBE NEWSWIRE) -- The National Control Commission for Prices and Energy adopted a resolution that to finance the cross-border electricity interconnection project NordBalt during the period of 2010 - 2016, LTL 479 million will be allocated from funds, collected from the provision of public obligation services. Additional LTL 226 million have been allocated by the European Union. This year the overall public obligation services tariff, included into the final price of electricity for consumers, is 6.01 LTC/kWh, of which the part, allocated to funding of strategic projects, is 0.9 LTC/kWh. According to the approved model, next year a part of public obligation services funds, allocated to NordBalt project, will be 0.82 LTC/kWh. As it was announced earlier, Swedish transmission system operator Svenska Kraftnat will invest nearly 2.3 billion SEK into the power bridge project between Lithuania and Sweden. The total value of NordBalt project is LTL 1.471 billion. The NordBalt interconnection is scheduled for launching into operation in December, 2015 Vilija Railaitė Head of Communications Phone +370 5278 2361 Mobile +370 613 19977 E-mail vilija.railaite@litgrid.eu