Lithuania continues negotiations with Sweden, its major electricity provider, after the European Commission told Sweden to sign an agreement with Lithuania on sharing electricity producers’ excess revenue, Lithuanian Energy Minister Dainius Kreivys says.
“As you know, the Swedes were not convinced they had to share those excess profits. The Commission, however, has made it very clear that Sweden is the country that has to agree with Lithuania. We have gone back to the negotiating table with the Swedes and the negotiations currently continue,” Kreivys told members of the opposition Lithuanian Farmers and Greens Union political group in the parliament, Seimas, on Wednesday.
As Lithuania and Sweden earlier failed to agree on the concept of a major electricity exporter, which Kreivys said was not clearly defined in EU documents, the two countries turned to the EC in mid-January and asked for clarification.
The rules on sharing electricity producers’ windfall profits and providing for a price cap of 180 euros per MWh is in place since December and will be in force until June 30.
Once Lithuania reaches an agreement with Sweden, it will probably be entitled to claim compensation for December only as the average electricity price stood around 248 euros per MWh in Sweden’s fourth bidding area from which NordBalt supplies electricity to Lithuania. In comparison, the price ranged from 81.8 to 93.3 euros in January-March.
Lithuanian government officials said earlier Lithuania would need to first agree with Sweden on sharing excess profits as Sweden is Lithuania’s key electricity provider.
Newsletter
Every Friday morning.
