Energy, Lithuania

Residents will have to pay for electricity per one kilowatt hour by four centas more instead of seven centas required by LEO LT with previous 18-% VAT, informs ELTA.

The price for electricity received by companies and organizations from medium voltage networks, will be increased by 2.6 ct/kWh (excluding VAT), and from low voltage networks – by 2.8 ct/kWh (excluding VAT).

According to Vilius Bernatonis, member of the board of directors of LEO LT, its subsidiaries might end the year operating at loss due to the approval of such prices.

"This decision leads to the decrease in price for the transportation of electricity, though production price has increased and electricity consumption might go down.

All these circumstances pose a serious threat for the companies to operate at loss," he commented on VKEKK decision. Lietuvos Energija and other LEO LT companies intend to submit their calculations about the influence of the said unilateral VKEKK decision on the results of activities in 2009 after the revision and balancing of the aims for this year.