JSC “INTER RAO Lietuva” sale of electricity in 2010 exceeded 5 TWh
In 2010 the income of electricity sale in the Baltic States of JSC “INTER RAO Lietuva”, having the status of independent electrical power supplier, being the authorized representative of Russian energy company Inter RAO JES, reached 744 million LTL. In Lithuania electric power was sold through the electricity market JSC Baltpool, applying the mechanism of mutual compensation settlement*, and in Latvia according to direct bilateral contracts.
‘We have reached perfect results due to the unique electricity purchase portfolio of JSC “INTER RAO Lietuva”, when electric power is imported simultaneously from several countries. In such way we may offer to our clients a competitive price and reliable supply, conforming to the individual needs of a user. In 2010 INTER RAO Lietuva imported to the Baltic States the record quantity of electrical power – 5.4 TWh. This is the best evaluation of us, as professional, reliable and competitive electricity supplier. Without any technical restrictions, electricity import could have been higher by 20% more. Namely this is our objective for 2011’, states JSC “INTER RAO Lietuva” Commercial Director Vidas Čebatariūnas.
About UAB INTER RAO Lietuva
JSC “INTER RAO Lietuva” is an independent electric power supplier. The company acquired this status in 2002, when a new Law on Energy came into force in Lithuania and liberalized electrical power market, legalized independent suppliers and other participants of the open market. Lithuanian investment company JSC “Scaent Baltic” owns 49% of shares of INTER RAO Lietuva. The remaining 51% of shares is owned by subsidiary company of the Russian Inter RAO JES in Finland RAO Nordic OY. Since October 2009 JSC “INTER RAO Lietuva” is the authorized representative of Inter RAO JES for the Baltic States.
* Mutual compensations are a discount, when electrical power price agreed by the market participants is lower than the market price or a premium, when electrical power price agreed by the market participants is higher than the market price.