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Litgrid AB Investor Presentation 2015
2262_rns_2015-06-04_35259a07-94a4-490f-af7c-7318ea7b48b6.pdf
Investor Presentation
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Litgrid AB
4 June 2015, Vilnius
Litgrid mission:
ensure reliable electricity transmission and enable competition in the open electricity market
Litgrid - electricity transmission system operator
Litgrid vision:
full-fledged integration of Lithuania’s electricity system into the European electricity infrastructure and the common electricity market, by creating opportunities for competitive economy
Litgrid AB shares listed on NASDAQ OMX
Vilnius Exchange since 22-12-2010 (Baltic
secondary list)
Litgrid AB shares
Authorized share capital
€ 146 million
Market capitalization
€ 350 million
97,50%
UAB EPSO-G: 491 736 153 ordinary registered shares
2,50%
Other shareholders
(5 627): 12 595 227
ordinary registered shares
17-04-2015
LITERIID
Since the beginning 70 years ago Lithuania’s power system has 12 interconnectors to other systems:
- 4 to Latvia
- 8 to Russia and Belarus
2 new interconnectors will help diversify electricity supply
Strategic Projects
NordBalt
- First electricity interconnection between Lithuania and Sweden
- 450 km long undersea cable
- 700 MW capacity
- HVDC direct current converters in Klaipėda and Nibru (Sweden)
LIBERID
2004
Completion of the Feasibility Study on Interconnection of the Lithuanian and Swedish power systems
2009
The Baltic Seabed Survey
In 2010, agreements between Lithuanian and Swedish TSOs were signed, in December - contract on the link-related works concluded.
In 2011, agreement on the intersection of NordBalt and Nord Stream was signed.
In 2011, construction of Klaipėda-Telšiai line launched.
In 2012, manufacture of the undersea cable launched.
In 2014, undersea cable laying works, direct current converter station construction works launched.
In 2014, TS reconstruction in Klaipėda completed.
In 2015, current converter equipment delivered to Klaipėda. Manufacture of the undersea cable completed. Cable laying in the sea continued. 90% of the link-related works completed.
NordBalt
- Estimated project value: € 552 million, Lithuania's part - €222 million
- Powerful link between Lithuanian and Swedish power systems to meet the demand of alternative energy sources
- Already - lower prices on futures on the electricity market
LitPol Link
- First power link between Lithuanian and Western European power grids
- Power line Alytus-Elk (Poland)
- 500 MW power capacity as of 2015
- HVDC direct current converter station near Alytus
LiHSRID
Since 1992
Possible options of the link project studied, feasibility studies conducted
2006
Political declaration by Lithuania and Poland on interconnection of the power systems
In 2011, TSO agreements on project implementation signed between Lithuania and Poland
In 2013, contracts signed for the launch of works related to line and current converter station construction
In 2014, line and converter station construction works launched
Construction of overhead line supports, building of the converter station
Reconstruction of Alytus TS
In 2015, equipment for direct current converter station delivered
75% of the link-related works completed
- Estimated project value: €370 million, Lithuania’s share - €108 million
- Finally, the homestretch of the project planned for almost 20 years
- First direct energy link between the Baltic States and Western Europe
LitPol Link
Electricity links - strategic projects of the European Union, the Baltic Sea Region, and Lithuania
- LitPol Link and NordBalt offers Lithuania an opportunity to choose energy resources and guarantee energy independence
- Put on the European energy map they mean the implementation of the Baltic Energy Market Interconnection Plan (BEMIP)
LitGRID
In 2016 we are to become the crossroad of power flows
Wholesale market
Capacity market
Physical electricity market
Day ahead market
Intraday market
Balancing market
Bilateral transactions
Financial market
Throughput capacity from the Baltic States, MW
Throughput capacity to the Baltic States, MW
Interconnection between markets via Estlink 1 and Estlink 2
Link throughput estimation under NPS
Link throughput estimation under NPS
Total throughput capacity, MW
to the Baltic States
From the Baltic States
Results
Consumer price on electricity in 2015–12.787 euro cents/kWh
The value of investment into strategic power infrastructure (...) is expected to cut the major share of the electricity price “pie” and offer unparalleled opportunity to boost competitive abilities of the national industry and business several decades ahead
Litgrid share in the electricity bill - 0.631 euro cent/kWh, or less than 5 % of the rate fixed
- Acquisition price
- PSO
- Transmission services
- System services
- Distribution services through medium voltage lines
- Distribution services through low voltage lines
- Public supply services
Investment, LTL million
Upper limit of the transmission price, ct/kWh
LIGRID
Key financial indicators, revenue and cost structure in 2014
Revenue structure
- Transmission revenue
- Balancing-regulation electricity revenue
- System services revenue
- ICT revenue
- PSO revenue
- Other electricity-related revenue
- Revenue from investment projects and similar
- Other revenue
Operating expense (OPEX) structure
- Wage & Social Security
- Asset repair & maintenance
- ICT services
- Taxes
- Premise lease, transport
- Training and international activity
- Other
http://www.nasdaqomxbaltic.com/
LitGRID
Key financial indicators, revenue and cost structure of 2015 Q1
Revenue Structure
- Transmission income
- Balancing electricity income
- Auxiliary service income
- ITC income
- PSO income
- Other electricity related income
- Other income
OPEX Structure
- Wage & social security
- Repair & maintenance
- ITC services
- Taxes
- Premise & transport lease
- Training & international activity
- Other
2015 1Q 2014 1Q
LIBERID
Litgrid price of share and trading volumes
http://www.nasdaqomxbaltic.com/
Upcoming Tasks and Challenges
LINGRID
Integration of the Baltic States into the Continental Europe - path guided by the experience of Poland and other Central European countries
1951-1958
European Continental Network (ECN) was established in 1951, when Austria, Belgium, France, West Germany, Italy, Luxembourg, the Netherlands, and Switzerland agreed to join their power grids into a common synchronous area. The common grid was completed in 1958.
1995-2004
In 1995, Poland, the Czech Republic, Slovakia, Hungary, and in 2004 - Romania and Bulgaria disconnected from the IPS/UPS system and joined the ECN.
2013
Turkey joins the ECN.
1987
Portugal, Spain, former Yugoslavia, Greece, and Albania join the ECN.
LIBERID
Baltic States to Join the ECN Team
Benefits of integration of the Baltic States into the ECN:
- Reliable operations of the power grids and secure power transmission.
- Coordinated actions in maintenance of installations and planning of further network development.
- Common power grid management regulations: network codes common for all countries of the European Union.
- Guaranteed power availability from the Western European grids.
European Continental Network
Our Team at Litgrid
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