OREANDA-NEWS. October 2, 2012. The implementation of the European Parliament’s Third Energy Package directive in Lithuania's electricity sector has been completed today.

Within the framework of implementation of the EP Third Energy Package directive, shares of the vertically integrated company Visagino Atomine Elektrine UAB, which owns the electricity producer Lietuvos Energija AB and electricity distributor LESTO AB, have been transferred to be held in trust by the Ministry of Economy. Shares of the electricity transmission system operator Litgrid AB, which is also controlled by Visagino Atomine Elektrine UAB, have been transferred by reimbursement to the newly established company EPSO-G, which is acting under the responsibility of the Ministry of Energy.

Therefore, the Ministry of Economy is now responsible for the economic and commercial aspects of the electricity sector, while the Ministry of Energy becomes responsible for the implementation of strategic tasks in the mentioned sector.

In accordance with Article 9 of the Directive 2009/72/EC of the European Parliament and of the Council of 13 July 2009, Lithuania selected the full ownership unbundling model, according to which the country shall ensure the unbundling of transmission activities from distribution, supply, and generation activities and their commercial interests, including the unbundling of the ownership of transmission activities.

On 11 April 2012, the National Control Commission for Prices and Energy obliged Litgrid 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 group of companies by 1 October 2012. On 4 July 2012, the Government of the Republic of Lithuania approved the activities that are necessary to complete the unbundling of electricity transmission activities from electricity generation and supply activities.

The implementation of the provisions of the Third Energy Package in the electricity sector will ensure the unbundling of electricity transmission activities from electricity generation and supply activities as well as from the commercial interests of companies that carry out or control such activities.