Lietuvos Energija

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"Lietuvos Energija", UAB
Type public company
Headquarters Vilnius, Lithuania
Key people Dalius Misiūnas (Chairman of the Board, CEO)
Parent Ministry of Finance
Website www.le.lt

"Lietuvos Energija", UAB is the main power company in Lithuania. It owns (through 95.54% stake in company Lietuvos Elektrinė) the largest power plant in Lithuania Elektrėnai Power Plant and directly owns two largest hydroelectric plants in the country (Kruonis Pumped Storage Plant and Kaunas Hydroelectric Power Plant).[1] It has also stake in the Klaipėda Geothermal Demonstration Plant.[2] The company's headquarters is located in Elektrėnai.[3]

History

Its predecessor, the Lithuanian Power Company, was a wholly state-owned enterprise that owned and operated all electrical and heating businesses in Lithuania apart from Ignalina Nuclear Power Plant. Privatization took place in 1997, when 86.5% of the shares went to the government, 8.5% to its workers, and 5% to the Swedish company Vattenfall.[4]

In 2008, state-held shares in Lietuvos Energija were transferred to newly established energy holding company LEO LT.[5] After dissolution of LEO LT in 2010, company's shares were transferred to Visagino Atomine Elektrine, a state-owned project company of the Visaginas Nuclear Power Plant.[6] The company also acquired from Visagino Atomine Elektrine the operator of the largest thermal power plant in Lithuania Lietuvos Elektrinė iand relocated its headquarters to Elektrėnai.[1][3]

In October, the transmission system operator Litgrid and the electricity market operator Baltpool were spun-off to the state-owned company LITGRID Turtas AB.[7]

Market information

The company is publicly traded on the Vilnius Stock Exchange. It owns three subsidiaries wholly: Energetikos Pajagos UAB, Kauno, Energetikos Remontas UAB, and Kruonio investicijos UAB. In 2006, it issued 75,000 bonds with a total nominal value of 7,500,000 euros. As of the end of 2007, it had issued 689,515,435 ordinary registered shares with nominal values of one litas each. Standard & Poor's gave it an A- rating during 2007.[8]

References

  1. ↑ 1.0 1.1 "Lietuvos Energijos gamyba acquires Lietuvos Elektrine shares". The Baltic Course. 2010-10-13. Retrieved 2010-10-29. 
  2. ↑ "Lietuvos Energijos gamyba to acquire Geoterma shares". Baltic Business News. 2007-12-27. Retrieved 2010-10-29. 
  3. ↑ 3.0 3.1 "Head Office of Lietuvos Energija Relocated to Elektrėnai" (Press release). Lietuvos Energija. 2010-08-31. Retrieved 2010-10-29. 
  4. ↑ Venkataraman Krishnaswamy, Gary Stuggins (2003). Private Sector Participation in the Power Sector in Europe and Central Asia. World Bank. ISBN 978-0-8213-5529-9. 
  5. ↑ Adomaitis, Nerijus (2007-12-20). "Lithuania agrees merged energy firm for nuclear plant". Reuters. Retrieved 2010-10-29. 
  6. ↑ Vaida, Petras (2010-07-14). "Visagino Atomine Elektrine gets Lietuvos Energija shares". The Baltic Course. Retrieved 2010-10-29. 
  7. ↑ "Resolutions Adopted During Extraordinary General Shareholders Meetings of October 28, 2010 of Joint-stock Company LIETUVOS ENERGIJA and LITGRID Turtas AB, which after Spin-off will Start its Activity" (Press release). Lietuvos Energija. 2010-10-28. Retrieved 2010-10-29. 
  8. ↑ "LIETUVOS ENERGIJA AB Independent Auditor‘s Report, Consolidated Annual Report and Financial Statements for the Year Ended 31 December 2007". Lietuvos Energija. Retrieved 2009-01-17. 

External links

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