OREANDA-NEWS. September 09, 2009. In extraordinary shareholders meeting of Lietuvos Energija a resolution was adopted to permit an establishment of daughter companies of which one is to perform the activity of electricity transmission while the other – electricity supply, reported the press-centre of Lietuvos Energija.

According to Mr. Aloyzas Koryzna, Chairman of the Management Board and CEO of Lietuvos Energija, these actions are performed in line with the directive of the European Parliament and of the Council of July 13, 2009 concerning common rules for the internal market in electricity.

According to this directive, the transmission system operator shall be independent from the activities of another energy enterprise, i.e. the control of transmission system must be separated from generation and supply whereby unbundling of activities, non-related with electricity transmission, will be implemented”, - said Mr. A. Koryzna.

The directive stipulates that the EU members are allowed to choose among three unbundling alternatives of energy companies: full ownership unbundling, establishment of an independent system operator or establishment of an independent transmission operator. According to Mr. Koryzna, the activity of transmission grid has already been unbundled from generation and supply in most of the European Union countries. 

Lietuvos Energija is seeking to prepare for all possible alternatives, while the resolution regarding a specific alternative application will be adopted by the Government of Lithuania.

The shareholders meeting has also approved additional investments into Kaunas HPP (LTL 3 million 720 thousand) and Kruonis HPP (LTL 690 thousand) for the continuation of necessary rehabilitation and ensuring of its operations. Moreover, the management of the company has been assigned to consider the allocation of investments and other relevant issues while preparing conditions for unbundling of these subsidiaries.