OREANDA-NEWS. On May 25, 2009 The Management Board of Lietuvos Energija AB, considering the ongoing recession of the nation’s economy, has approved changes in electricity transmission price, tariff and their application procedures. Electricity transmission price from July 1, 2009 will be reduced to 2.2 LTC/kWh, reported the press-centre of Lietuvos Energija AB.

The currently valid electricity transmission price is 2.4 LTC/kWh. The tariffs set by the Management Board of Lietuvos Energija will take effect after the tariffs are announced by National Control Commission for Prices and Energy (NCCPE) under procedure prescribed by legal acts.

“The enhancement of the company’s efficiency and cost-cutting in January-April allow a revision of electricity transmission tariff towards its reduction without any changes in expected annual financial results,” – said Mr.Darius Masionis, Chief Executive Officer of Lietuvos Energija AB. According to him, the company is reducing electricity transmission price by gradual efficiency enhancement of operations, cost cutting and subject to reduced price of services, works and goods being purchased.

In the procedures proposed for approval, it is presumed that the price of public obligation services (POB) does not change. If NCCPE sets other than 6.58 LTC/kWh price of POB, the commission will be presented an adjustment of this procedure.