Litgrid 9 months results: high energy prices lead to loss, strategic projects are on track

Lithuanian electricity transmission system operator Litgrid suffered a net loss of €43.5 million in the first 9 months of this year due to high electricity prices.

This did not affect the company’s consistent implementation of strategic projects of electricity system synchronisation with the continental Europe and ensuring the smooth operation of the electricity transmission system. In response to the situation in the electricity market, Litgrid also proposed to allocate part of the congestion management revenue received by the company to consumers, thus damping the increase in the electricity transmission service price for the next year, Litgrid reports.