Energy, Investments, Legislation, Lithuania

The document is updated on an annual basis and includes all critical equipment used within the power generation and transmission infrastructure to ensure national electricity demand, Litgrid reports.

National electricity consumption is estimated to grow by 2.6% annually on average and is expected to reach 13.9 terawatt-hours in 2024. The service and industrial sectors show the highest potential for growth in terms of power consumption.

It is estimated that 55 to 83% of the electricity demand could be provided by the use of domestic resources. However, starting the beginning of 2016, the new power interconnectors will increase the availability of power supply to exceed the domestic needs by 1.9 to 2.5 times.

"Analysis of power market statistics suggests that only 22% of the national electricity consumption will be generated by local power plants, while the major share will be imported," said Daivis Virbickas, chairman of the Board and CEO of Litgrid.

Investments into the electricity transmission network anticipated during the 10-year plan will reach EUR 870 million. "The major share of such investments will be allocated to grid's integration into the networks and systems of continental Europe and ensuring system reliability: two thirds of the investments will be used for implementation of the strategic national goals in the power sector, and 26% – for projects ensuring security of power supply," said Virbickas.

A comprehensive presentation of the Ten-Year Network Development Plan for 2015 – 2024 will be held this autumn.