Regarding the exploitation of Unit 7 and Unit 8 of Lithuanian Power Plant
AB “Ignitis gamyba”, company code 302648707, registered office at Elektrinės st. 21, Elektrėnai (hereinafter referred to as the Company). The total number of registered ordinary shares issued by the Company is 648 002 629, ISIN code – LT0000128571.
On the basis of the decisions of the Board of the Company, taken on 11 December 2017 and on 10 December 2018, the exploitation of Unit 7 and Unit 8 of Lithuanian Power Plant was terminated and the units were put to preservation mode in such way that i) under the instruction of LITGRID AB and / or Ministry of Energy of the Republic of Lithuania it would be possible to put it into operation again expeditiously (within a period not exceeding three days), and/or ii) the units could take part in the Baltic insulated work test (including preparation for the testing), and/or iii) it would be possible to perform the required compulsory testing on the blocks.
On 29 November 2019 the Company won the auction of the tertiary active power reserve (hereinafter referred to as the Reserve), announced by LITGRID AB, according to which the service of the Reserve for the year 2020 will be provided by the Company within such scope: 260 MW by Unit 7 of Lithuanian Power Plant and 215 MW by Unit 8 of Lithuanian Power Plant. On 13 December 2019 the Company concluded an agreement with LITGRID AB regarding the purchase and sale of the tertiary active power reserve. In order for Unit 7 and Unit 8 to provide the Reserve for LITGRID AB, Unit 7 and Unit 8 of Lithuanian Power Plant have to be put into operation.
Taking into consideration the above mentioned, the decision was made by the Board of the Company to invalidate the decision of the Board of the Company taken on 10 December 2018 regarding the termination of the exploitation and preservation of Unit 8 of Lithuanian Power Plant and decision taken on 11 December 2017 regarding the termination of exploitation and preservation of Unit 7 of Lithuanian Power Plant.
On 18 December 2019 the Supervisory Board of the Company did not object to these decisions. Therefore, the decisions of the Board of the Company, taken on 10 December 2018 and 11 December 2017 were declared as invalid from the date of the approval of the Supervisory Board of the Company.
Artūras Ketlerius, Head of public relations, ,
