INTER RAO Lietuva is one of the largest players in the electricity market in Lithuania and other Baltic countries. The company actively operates in the electricity wholesale market: it trades in the Europe’s leading Scandinavian electricity exchange, Nord Pool Spot, and supplies electricity to the largest consumers in the Baltics on the basis of bilateral agreements.
INTER RAO Lietuva, together with its subsidiaries, INTER RAO Latvia and INTER RAO Eesti, is engaged in the wholesale of electricity in all three Baltic states, depending on market conditions at a given moment.
Moreover, INTER RAO Lietuva is active in the retail electricity market making it one of the largest independent suppliers of electricity in Lithuania and a rapidly growing force in Latvia and Estonia. The company was among the first in Lithuania to obtain an independent supplier licence (the National Control Commission for Prices and Energy granted the license on March 22, 2003). A trading licence was granted to a subsidiary of the company in Latvia, INTER RAO Latvia, on March 1, 2010. Special authorisations are not required to operate in Estonia.
The company aims to increase wholesale volumes while continuing to expand retail volumes. Continued liberalisation of the electricity market provides favourable conditions for further development because, according to the market development plan, all organisations in Lithuania must choose an independent supplier by January 1, 2013. The electricity markets of Latvia and Estonia have already been liberalised.
Because INTER RAO Lietuva is an authorised representative of the Russian company, Inter RAO, in the Baltic countries, it is able to ensure a competitive and reliable supply of electricity. Inter RAO is one of the largest electricity companies in the Eastern region, operating 41 heat and power plants, 10 hydropower plants, 2 wind farms and 6 small-scale plants (gas-turbine and gas reciprocating units) in Russia, Kazakhstan, Georgia and Moldova with a total capacity of 31 GW. The company produces electricity and thermal energy, is an electricity supplier, engages in the international trade of electricity as well as designs and develops power infrastructure projects. Inter RAO is listed on the largest Russian stock exchange MICEX – RTS.