Energy, Energy Market, Good for Business, Lithuania

"Judging from the provided figures and tendencies, … it's obvious that that price of electricity should remain the same in 2021 as it is now, and might even go down slightly," Vaiciunas told LETA/BNS.

The final power and gas rates will be announced by the National Energy Regulatory Council. It usually announced rates for household in lat November but hopes to do that as early as October this year. Since Lithuania's is completing the liberalization of its power market, the goal is to give consumer more time to pick their power provider, and also time for providers to get prepared.

Vaiciunas also says there's no major reasons for natural gas prices to grow, estimating that they should remain unchanged.

"Speaking of gas prices, I would underline that I don’t see and signs or reasons for them to grow in 2021 as the existing tendencies should remain unchanged. In other words, prices should not go up, they should remain stable," the minister said.

Power prices for households went down 8 % on average as of July and gas prices went down 15-22%.