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

The Seimas on Thursday passed the amendments to the Law on Electricity with 110 votes in favor. 

Currently, most households purchase electricity from the state-owned supplier Ignitis at prices regulated by the National Energy Regulatory Council (VERT).

Virgilijus Poderys, the chairman of the Seimas Commission for Energy and Sustainable Development, has underlined the need for ensuring that electricity bills do not increase because of the liberalization, even if a short-term jump in prices is possible.

Along with the market liberalization, plans call for setting up a data collection and exchange platform, or a data hub, and installing smart meters.

Two companies, Enefit, a company of Estonia's Eesti Energia, and Elektrum Lietuva, a power supplier owned by Latvia's Latvenergo, started supplying power to households in Lithuania earlier this spring.