Energy, Legislation, Lithuania

He reminded that Lithuania at the moment has only the power exchange, meanwhile other kinds of energy resources are traded on a contractual basis, and therefore the processes often lack transparency.

"The new concept and a new law based on it would stipulate a legal status of the energy exchange operator. The new law would also regulate relations with other persons that operate in the energy sector and in turn create environment for effective competition in the energy market, using a transparent, clearly regulated and non-discriminatory system for centralized energy trade," Udrenas said.

According to the adviser, this would open the way for liberalization of the system, would allow market participants to trade biofuel and oil products and would finally contribute to reducing expenses.