OREANDA-NEWS. May 15, 2009. Based on preliminary data, in Q1 2009 Lietuvos Energija AB group posted a loss of LTL 29.6 million. During Q1 2008 the group’s net profit was LTL48.9 million, reported the press-centre of Lietuvos Energija.

In Q1 2009 Lietuvos Energija AB group income stood at LTL 420.1 million - 17 per cent more than last year (LTL359 million). From this sum LTL 101.7 million – accounted for income from transmission service (including capacity reserve), LTL175.1 million – from public obligation services, LTL53.6 million – from sales through auction, LTL75.7 million – from electricity exports.

According to Mrs. Aldona Jakutiene, Board Member, Director of Finance Department of Lietuvos Energija AB, the income growth in Q1 2009 resulted from the price growth of public service obligations (PSO), although this change had no impact on profit. “The profit drop resulted from the altered accounting principle of public service obligations costs, which will reallocate costs differently within the year with regard to their seasonality and will have no impact on final results of the year and a significant change in electricity consumption in Q1 2009", - says Mrs. A. Jakutiene.

In Q1 2009, acting as the transmission system operator, Lietuvos Energija AB through its high-voltage grid transmitted 2.5 billion kWh of electricity for domestic needs – 8.2 per cent less year-on-year. Due to the reduced domestic demand, electricity volume for exports, compared with respective period in 2008, increased and accounted for 0.9 billion kWh whereas it was 0.6 billion kWh in Q1 2008.