Energy, Energy Market, Lithuania

The study is aimed at preparing for changes while reducing the country's energy dependence on fossil fuel, integrating into markets and growing green energy production volumes, Litgrid said.

"It's very important for us to evaluate global tendencies and foresee possible long-term development scenarios, and also to preplan measures and resources that will be necessary for the implementation of strategic energy goals," Rimvydas Stilinis, board chairman of Litgrid, said.

The study authors will be expected to provide several scenarios, evaluate power production capabilities and the power market, and provide technical, economic and legal instrument for the system's effective operation.

The study will also have to assess possibilities and benefit of new technology, for example, energy storage means, smart transmission networks, producing consumers and other measures.