Energy, Energy Market, Lithuania

The National Control Commission for Prices and Energy announced new electricity distribution service and public electricity prices for 2017, Energijos Skirstymo Operatorius (Energy Distribution Operator, or ESO) said in a stock exchange release.

The standard electricity tariff, which applies to 70% of ESO's private customers, will decrease by 8.2% compared with the current tariff to 11 euro cents per kilowatt-hour (kWh). Households charged on a time-of-day basis will pay 12 cents for daytime electricity and 8.7 cents for nighttime electricity, down by 7.7% and 9.4%, respectively.

Consumers using electric cookers will pay 11 cents, down by 7.6%. The tariffs for those charged on a time-of-day basis will fall by 7% to 12 cents for daytime electricity and by 8.4% to 8.7 cents for nighttime electricity.

The network service price for business customers receiving their electricity from the medium voltage grid will decline by around 14.9% on average and the price for those connected to the low voltage grid will go down by 14.3%.

The energy market regulator said that electricity prices may still be adjusted at the end of the year to meet the need for public service obligation funds to ensure power system reserves and the state's energy security.