Lietuvos energija

Lietuvos energija is a state-controlled energy provider in Lithuania. He owned 100 % of the energy holding company Leo LT. The company holds a monopoly on the trading of electricity and has to guarantee a government contract, a stable electricity supply in Lithuania. Lietuvos energija buys and sells electric energy from / to domestic and foreign producers and provides over which he controls and high voltage network (110 kV / 330 kV ) for the distribution of electricity. The company is listed on the Vilnius Stock Exchange. It has 1,200 employees (as of end of 2009). Chairman of the Board since June 23, 2009 Aloyzas Koryzna the successor of Darius Masionis (since 8 July 2008) and previously Rymantas Juozaitis, who had directed the destinies of Lietuvos energija since the restructuring of the beginning of 2002 and with the establishment of Leo LT there to CEO was appointed.

History

Lietuvos energija founded after the fall of the Soviet Union on the basis of the existing infrastructure as a state power company. As part of the privatization of energy markets was 1999, the sale of the municipal district heating networks and district heating, and then a partial privatization through the sale of shares. The end of 2000, the Swedish energy supplier Vattenfall acquired a 11 % stake, the rest held by the Lithuanian State (86%) and Lithuanian communities ( 3%). Vattenfall sold in 2001 its share of the German E.ON Ruhrgas. In a further step, the privatization Endverteilernetze were grouped into their own enterprises, namely the west of the country, the company Vakarų skirstomieji tinklai (VST ) and for the east / south Rytų skirstomieji tinklai (RST ) in November 2000. Both companies were spun off in late 2001 and registered on 31 December 2001 as an independent company, as well as the then still in possession of Lietuvos energija power plants and Lietuvos elektrinė Mažeikių elektrinė. As part of a settlement of investments E.on Ruhrgas exchanged his shares in Lietuvos energija and Lietuvos elektrinė in the summer of 2002 against equity investments in RST and VST. Lietuvos energija was thus 100 % owned by the public sector.

In order to have after the closure of the Ignalina nuclear power plant in late 2009 with a financially strong, state-controlled entity for the construction of a new nuclear power plant, the Lithuanian government decided to re- merging the Endverteilernetze with Lietuvos energija in summer 2007. In April 2008, a national utility company Leo LT was calculated from the RST company, VST and Lietuvos energija formed and transferred the shares of Lietuvos energija in his possession. As part of this merger, the power sector were Kauno hidroelektrinė ( hydroelectric power plant in Kaunas) and Kruonio hidroakumuliacinė elektrinė ( pumped storage power plant in Kruonis ) separated from Lietuvos energija and established as an independent, 100 % state-owned enterprises.

Business

Since the restructuring of the year 2001/2002 the business has remained relatively stable. The annual turnover is between 900 million and 1.2 billion litas ( about 260-350 million euros ). The number of employees is also fairly constant at 1,150.