OREANDA-NEWS. On 19 January 2015 the National Control Commission for Prices and Energy (hereinafter - Commission), in accordance with the new methodology of electricity transmission, distribution and public supply services and public price cap setting, approved electricity distribution price caps for 2016:

•    in medium - voltage networks 1.1896 EUR cents/kWh (4.1074 LTL ct/kWh) (VAT not included);

•    in low - voltage networks 1.5421 EUR cents/kWh (5.3246 LTL ct/kWh) (VAT not included).

Currently electricity distribution price cap in medium-voltage networks is 1.178 euro cents/kWh (4.068 ct/kWh) (VAT not included), in low-voltage networks – 1.550 euro cents/kWh (5.351 ct/kWh) (VAT not included).

The Company is currently performing asset valuation in accordance with the requirements of IFRS. The Commission’s decision on setting the price caps for the year 2016 and application of the new methodology for determining the level of income for the period of 2016-2020 will have a significant negative impact on the value of the Company’s assets. LESTO will inform about the results of the asset valuation in a separate notification on material event.