Litgrid AB

Regulatory Filings • Apr 6, 2012

Disclosure 298973

LITGRID AB - Notification on material event

LITGRID AB Obliged to Implement Activity Separation Plan by 1 October

Vilnius, Lithuania, 2012-04-06 14:31 CEST (GLOBE NEWSWIRE) -- Lithuanian electricity transmission system operator Litgrid has been obliged to carry out all the necessary activities in order to implement the provisions of the Law on Electricity regarding the unbundling of electricity transmission activity from the vertically-integrated company group by 1 October 2012. The National Control Commission for Prices and Energy (NCCPE) has indicated that the electricity transmission network operator has to be unbundled according to the requirements of the European Union's Third Energy Package. Litgrid's controlling interest is currently held by the vertically-integrated group of Visagino Atominė Elektrinė UAB. Last week, Litgrid presented the NCCPE with a detailed action plan for the unbundling of the company from the vertically-integrated company group. The plan specifies the procedure for the unbundling of activities of Lithuanian electricity transmission system operator Litgrid from Visagino Atominė Elektrinė UAB company group. Litgrid is the Lithuanian electricity transmission system operator, managing electricity transmission, maintaining electricity production and consumption balance, ensuring renewable energy source integration in the transmission system, and providing public obligation services. Litgrid is implementing the strategic national energy projects, including international electricity interconnections NordBalt and LitPol Link, and is responsible for the national energy system's development and full-fledged integration into the common European electricity network and the continental European electric energy system. Vilija Railaitė Head of Communications Phone +370 5278 2361 Mobile +370 613 19977 E-mail vilija.railaite@litgrid.eu