Energy, Energy Market, EU – Baltic States, Good for Business, Lithuania

Vidmantas Salietis, Energijos Tiekimas' CEO, told  that the company will first of all trade on the electricity exchange and will only think about retail market and direct energy sales to end users, if the operations prove successful.

"We will sell electricity on the wholesale market, not to the end user, therefore, will do not have objectives in connection to the market share, we want to expand our operations gradually, step by step. If we do well, we will think about the retail market," Salietis told.

He said that retail trade required more investments, as the company would have to enhance its visibility and focus on marketing. Therefore, in the CEO's words, the company is lowering risks by testing its performance on the wholesale market of Poland first.

The head of Energijos Tiekimas said the company had no specific plans for further expansion yet, noting that it would consider entering countries, such as the Czech Republic and Slovakia, in case of success in Poland.

IRL Polska, subsidiary of Inter RAO Lietuva that is controlled by Russia's energy giant Inter RAO, is selling electricity on the Polish market since the beginning of 2014.