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{{Infobox company
{{Infobox company
| name = Litgrid AB
| name = Litgrid AB
| logo = File:Litgrid logo color side.jpg
| logo = Litgrid Logo.svg
| image =
| logo_size = 100px
| image = Litgrid by Augustas Didzgalvis.jpg
| image_size =
| image_size =
| image_alt =
| image_alt =
| image_caption =
| image_caption = Litgrid office in [[Vilnius]]
| trading_name =
| trading_name =
| native_name =
| native_name =
Line 15: Line 16:
| traded_as = {{OMX Baltic|LT0000128415|LGD1L}}
| traded_as = {{OMX Baltic|LT0000128415|LGD1L}}
| ISIN = LT0000128415
| ISIN = LT0000128415
| ISIN2 =
| industry = Electricity
| industry = Electricity
| fate =
| fate =
Line 29: Line 29:
| key_people = Rokas Masiulis (CEO)
| key_people = Rokas Masiulis (CEO)
| services = Electric power transmission
| services = Electric power transmission
| revenue = €418.953 million<ref name=rekvizitai>{{citation|title=Litgrid, AB revenue, profit|url=https://rekvizitai.vz.lt/en/company/litgrid_ab/turnover/|website=www.rekvizitai.vz.lt}}</ref>
| revenue =
| revenue_year = <!-- Year of revenue data (if known) -->
| revenue_year = 2022
| operating_income =
| operating_income = €24.101 million<ref name=rekvizitai/>
| income_year = <!-- Year of operating_income data (if known) -->
| income_year = 2022
| net_income = <!-- or: | profit = -->
| net_income = -€49.484 million<ref name=rekvizitai/>
| net_income_year = <!-- or: | profit_year = --><!-- Year of net_income/profit data (if known) -->
| net_income_year = 2022
| assets =
| assets = €334.621 million<ref name=rekvizitai/>
| assets_year = <!-- Year of assets data (if known) -->
| assets_year = 2022
| equity =
| equity = €166.980 million<ref name=rekvizitai/>
| equity_year = <!-- Year of equity data (if known) -->
| equity_year = 2022
| owner = <!-- or: | owners = -->
| owner = [[Ministry of Energy (Lithuania)]]
| members =
| members =
| members_year = <!-- Year of members data (if known) -->
| members_year = <!-- Year of members data (if known) -->
| num_employees =
| num_employees = 421
| num_employees_year = <!-- Year of num_employees data (if known) -->
| num_employees_year = 2023
| parent = EPSO-G AB (97.5%)
| parent = [[EPSO-G AB]] (97.5%)
| divisions =
| divisions =
| subsid =
| subsid =
Line 53: Line 53:
'''Litgrid AB''' is a Lithuanian electricity transmission system operator that operates Lithuania's electricity transmission grid. Litgrid is responsible for the integration of the Lithuanian electricity system into the European electricity infrastructure and the common [[electricity market]].
'''Litgrid AB''' is a Lithuanian electricity transmission system operator that operates Lithuania's electricity transmission grid. Litgrid is responsible for the integration of the Lithuanian electricity system into the European electricity infrastructure and the common [[electricity market]].


Litgrid has completed the strategic international connection projects [[NordBalt]] (Lithuania-Sweden) and [[LitPol Link]] ([[Lithuania]]-[[Poland]]), and currently it is implementing Lithuania's strategic objective of reorienting its power system for synchronous operation with the continental European power grid. The company has over 300&nbsp;employees.
Litgrid has completed the strategic international connection projects [[NordBalt]] (Lithuania-Sweden) and [[LitPol Link]] ([[Lithuania]]-[[Poland]]), and currently it is implementing Lithuania's strategic objective of reorienting its power system for synchronous operation with the continental European power grid. The company has over 300&nbsp;employees.<ref>{{Cite web |title=LITGRID AB (LGD1L) Stock Price & News - Google Finance |url=https://www.google.com/finance/quote/LGD1L:VSE |access-date=2022-10-26 |website=www.google.com |language=en-US}}</ref>


As from 2010, the companies shares are listed on the [[Nasdaq Vilnius|NASDAQ OMX Vilnius]] stock exchange.<ref>{{Cite web|title=Litgrid|url=https://www.litgrid.eu/index.php/electricity-market/benefits-for-customers-and-opportunities-for-market-participants-/560|access-date=24 March 2021|website=www.litgrid.eu}}</ref> 97.5% of Litgrid's shares are owned by EPSO-G UAB which is directly controlled by the [[Ministry of Energy (Lithuania)|Ministry of Energy of the Republic of Lithuania]].{{when|date=July 2021}}{{cn|date=July 2021}}
As from 2010, the companies shares are listed on the [[Nasdaq Vilnius|NASDAQ OMX Vilnius]] stock exchange.<ref>{{Cite web|title=Litgrid|url=https://www.litgrid.eu/index.php/electricity-market/benefits-for-customers-and-opportunities-for-market-participants-/560|access-date=24 March 2021|website=www.litgrid.eu}}</ref> 97.5% of Litgrid's shares are owned by EPSO-G UAB which is directly controlled by the [[Ministry of Energy (Lithuania)|Ministry of Energy of the Republic of Lithuania]].{{when|date=July 2021}}<ref>{{Cite web |title=Moody's assigns Baa1 credit rating to EPSO-G Group {{!}} EPSO-G |url=https://www.epsog.lt/en/news/moody-s-assigns-baa1-credit-rating-to-epso-g-group |access-date=2022-10-26 |website=www.epsog.lt}}</ref>


== History ==
== History ==
The company was founded in 2010 after the reorganisation of the Lithuanian energy sector in accordance with the requirements of the EU's third energy package. The third energy package, approved in the [[European Union]] in 2009, stipulates the requirement to separate the transmission and production from grid ownership in the electricity and gas sectors. During 2010–2011, Litgrid took over the ownership and maintenance of the electricity transmission grid from [[Ignitis|Lietuvos energija]] (currently – [[Ignitis|Ignitis group]]), while the latter company remained the owner of the largest power plants in the country.{{fact|date=April 2021}}
The company was founded in 2010, after the reorganisation of the Lithuanian energy sector in accordance with the requirements of the EU's third energy package. The third energy package, approved in the [[European Union]] in 2009, stipulates the requirement to separate the transmission and production from grid ownership in the electricity and gas sectors. During 2010–2011, Litgrid took over the ownership and maintenance of the electricity transmission grid from [[Ignitis|Lietuvos energija]] (currently – [[Ignitis|Ignitis group]]), while the latter company remained the owner of the largest power plants in the country.{{citation needed|date=April 2021}}


As from 1 October 2012, the company is fully separated from the companies that control electricity production, supply and distribution. The company is directly responsible for the implementation of 14 synchronisation projects of special national importance as approved by the Government.{{fact|date=April 2021}}
As from 1 October 2012, the company is fully separated from the companies that control electricity production, supply and distribution. The company is directly responsible for the implementation of 14 synchronisation projects of special national importance as approved by the Government.<ref>{{Cite web |title=COMPANY'S CONDENSED INTERIM FINANCIAL STATEMENTS, PREPARED ACCORDING TO INTERNATIONAL FINANCIAL REPORTING STANDARDS AS ADOPTED BY THE EUROPEAN UNION (UNAUDITED), FOR THE SIX-MONTHS PERIOD ENDED 30 JUNE 2020, PRESENTED TOGETHER WITH INTERIM REPORT |url=https://nasdaqbaltic.com/market/upload/reports/lgd/2020_q2_en_eur_con_ias.pdf}}</ref>


==Operations==
==Operations==

[[File:Elektros tinklas.png|left|thumb|Lithuanian high voltage transmission network]]
According to the data of 2021, the company owns 7,000 km of overhead lines, over 200 transformer substations and 17 inter-system lines connecting to other countries, constantly maintaining them to ensure appropriate [[Electric power transmission|electricity transmission]] for all residents, institutions and other organisations in the country. The Lithuanian transmission networks have four 330 kV power line connections with the Latvian, four connections with the Belarusian and three connections with the Russian ([[Kaliningrad]]) energy systems.
According to the data of 2021, the company owns 7,000&nbsp;km of overhead lines, over 200 transformer substations and 17 inter-system lines connecting to other countries, constantly maintaining them to ensure appropriate [[Electric power transmission|electricity transmission]] for all residents, institutions and other organisations in the country. The Lithuanian transmission networks have four 330 kV power line connections with the Latvian, four connections with the Belarusian and three connections with the Russian ([[Kaliningrad]]) energy systems.<ref>{{Cite web |title=Lietuvos energija's new unit is being connected to the power grid |url=https://ignitisgamyba.lt/en/news/company-news/lietuvos-energijas-new-unit-is-being-connected-to-the-power-grid/3202}}</ref>


== Synchronisation ==
== Synchronisation ==
Synchronisation of Lithuania's [[energy system]] with the continental European power grid is necessary to ensure the country's energy independence. The power energy systems of the [[Baltic states]] are still dependent on the frequency control operations conducted in Russia, but in 2025 the Baltic power systems will join the single synchronous pool of European systems.{{fact|date=April 2021}}
Synchronisation of Lithuania's [[energy system]] with the continental European power grid is necessary to ensure the country's energy independence. The power energy systems of the [[Baltic states]] are still dependent on the frequency control operations conducted in Russia, but in 2025, the Baltic power systems will join the single synchronous pool of European systems.{{citation needed|date=April 2021}}


On 20 June 2019 in [[Brussels]], a political agreement was signed on the implementation of the synchronisation of the Baltic electricity system with the European grid. The agreement established a specific action plan and key projects to be implemented until 2025, when the Baltic states are to join the secure and reliable European energy system.{{fact|date=April 2021}}
On 20 June 2019, in [[Brussels]], a political agreement was signed on the implementation of the synchronisation of the Baltic electricity system with the European grid. The agreement established a specific action plan and key projects to be implemented until 2025, when the Baltic states are to join the secure and reliable European energy system.{{citation needed|date=April 2021}}


The value of the project for the integration of the Baltic and continental European power grids is around 1.6&nbsp;billion [[Euro]]s, of which over 1 billion euros are allocated by the [[European Union]].{{fact|date=April 2021}}
The value of the project for the integration of the Baltic and continental European power grids is around 1.6&nbsp;billion [[Euro]]s, of which over 1 billion euros are allocated by the [[European Union]].{{citation needed|date=April 2021}}
⚫
The Baltic synchronisation with the continental European grid requires not only a new connection with [[Poland]], but also the enhancement of internal transmission networks and preparation of the systems for disconnection from the [[IPS/UPS]] and for independent frequency control. In 2019, the [[Government of Lithuania|Lithuanian Government]] approved a list of 14 synchronisation projects, including the construction of the [[Harmony Link]] connection with Poland,<ref>{{Cite web|title=Litgrid|url=https://www.litgrid.eu/index.php/tinklo-pletra/strateginiai-projektai/harmony-link/20075|access-date=24 March 2021|website=www.litgrid.eu}}</ref> expansion of the existing [[LitPol Link]] connection<ref>{{Cite web|title=Litgrid|url=https://www.litgrid.eu/index.php/grid-development-/strategic-projects-/litpol-link/135|access-date=24 March 2021|website=www.litgrid.eu}}</ref> by adapting it for synchronous operation, and installation of 3 synchronous compensators. At the end of 2020, 3 projects had been completed: the expansion of the Bitėnai substation, completion of a new 110 kV overhead line Pagėgiai-Bitėnai, and reconstruction of the 330 kV power transmission line Elektrėnai Power Plant-Vilnius.<ref>{{Cite web|title="Litgrid" įgyvendino trečią iš 14 sinchronizacijos projektų – Elektrėnus ir Vilnių jungianti linija sustiprinta dvigubai|url=http://enmin.lrv.lt/lt/naujienos/litgrid-igyvendino-trecia-is-14-sinchronizacijos-projektu-elektrenus-ir-vilniu-jungianti-linija-sustiprinta-dvigubai|access-date=24 March 2021|website=enmin.lrv.lt|language=lt}}</ref>

⚫
The Baltic synchronisation with the continental European grid requires not only a new connection with [[Poland]], but also the enhancement of internal transmission networks and preparation of the systems for disconnection from the [[IPS/UPS]] and for independent frequency control. In 2019, the [[Government of Lithuania|Lithuanian Government]] approved a list of 14 synchronisation projects, including the construction of the [[Harmony Link]] connection with Poland,<ref>{{Cite web|title=Litgrid|url=https://www.litgrid.eu/index.php/tinklo-pletra/strateginiai-projektai/harmony-link/20075|access-date=24 March 2021|website=www.litgrid.eu}}</ref> expansion of the existing [[LitPol Link]] connection<ref>{{Cite web|title=Litgrid|url=https://www.litgrid.eu/index.php/grid-development-/strategic-projects-/litpol-link/135|access-date=24 March 2021|website=www.litgrid.eu}}</ref> by adapting it for synchronous operation, and installation of 3 synchronous compensators. At the end of 2020 were completed 3 projects: the expansion of the Bitėnai substation, completion of a new 110 kV overhead line Pagėgiai-Bitėnai, and reconstruction of the 330 kV power transmission line Elektrėnai Power Plant-Vilnius.<ref>{{Cite web|title=„Litgrid“ įgyvendino trečią iš 14 sinchronizacijos projektų – Elektrėnus ir Vilnių jungianti linija sustiprinta dvigubai|url=http://enmin.lrv.lt/lt/naujienos/litgrid-igyvendino-trecia-is-14-sinchronizacijos-projektu-elektrenus-ir-vilniu-jungianti-linija-sustiprinta-dvigubai|access-date=24 March 2021|website=enmin.lrv.lt|language=lt}}</ref>


== Key projects ==
== Key projects ==
{{main|LitPol Link|NordBalt|Harmony Link}}
{{main|LitPol Link|NordBalt|Harmony Link}}
The [[LitPol Link]] started its operations in 2015. It was the first connection between the [[Baltic states|Baltic]] and Western European electricity infrastructures. This high-capacity connection (400&nbsp;kV power transmission line) with Poland enables synchronous operation with the energy systems of other European countries and the development of the common European electricity market. Litgrid constructed the LitPol Link in cooperation with the Polish power grid operator [[PSE-Operator|PSE]]. Implementation of this strategic project required an extensive technical design work, while the construction itself was carried out during 2014–2015. In addition, 11 other smaller-scale network projects were completed.{{cn|date=July 2021}}
The [[LitPol Link]] started its operations in 2015. It was the first connection between the [[Baltic states|Baltic]] and Western European electricity infrastructures. This high-capacity connection (400&nbsp;kV power transmission line) with Poland enables synchronous operation with the energy systems of other European countries and the development of the common European electricity market. Litgrid constructed the LitPol Link in cooperation with the Polish power grid operator [[PSE-Operator|PSE]]. Implementation of this strategic project required an extensive technical design work, while the construction itself was carried out during 2014–2015. In addition, 11 other smaller-scale network projects were completed.{{citation needed|date=July 2021}}


The purpose of the [[NordBalt]] project<ref>{{Cite web|title=Litgrid|url=https://www.litgrid.eu/index.php/grid-development-/strategic-projects-/nordbalt/136|access-date=24 March 2021|website=www.litgrid.eu}}</ref> was to lay an inter-system power connection between the Lithuanian and Swedish power transmission systems. The connection's length is around 450 km, while its capacity is 700 MW. This connection is made of underwater and underground high-voltage DC cables and converter stations in Lithuania and Sweden. NordBalt started its operation in 2015. This connection between Lithuania and Sweden ensures more diversity in the supply of electricity, which reduced the price of electricity by 30% in the first year of its operation. Litgrid completed the strategic electricity project in collaboration with the Swedish power transmission system operator [[Svenska kraftnät]].{{cn|date=July 2021}}
The purpose of the [[NordBalt]] project<ref>{{Cite web|title=Litgrid|url=https://www.litgrid.eu/index.php/grid-development-/strategic-projects-/nordbalt/136|access-date=24 March 2021|website=www.litgrid.eu}}</ref> was to lay an inter-system power connection between the Lithuanian and Swedish power transmission systems. The connection's length is around 450&nbsp;km, while its capacity is 700 MW. This connection is made of underwater and underground high-voltage DC cables and converter stations in Lithuania and Sweden. NordBalt started its operation in 2015. This connection between Lithuania and Sweden ensures more diversity in the supply of electricity, which reduced the price of electricity by 30% in the first year of its operation. Litgrid completed the strategic electricity project in collaboration with the Swedish power transmission system operator [[Svenska kraftnät]].{{citation needed|date=July 2021}}


⚫
[[Harmony Link]] is a planned [[high-voltage direct current]] (HVDC) connection between Lithuania and Poland. It total length is almost {{convert|330|km}}, while its capacity is 700&nbsp;MW. The connection goes both underwater and underground. It will connect the Żarnowiec substation in the [[Pomeranian Voivodeship|Polish Pomerania]] region with a newly built 330&nbsp;kV [[Darbėnai]] switching station in the Lithuanian [[Kretinga]] region. The Harmony Link project is the first step set out in the political agreement on the [[Baltic states synchronization with UCTE|synchronisation of the Baltic electricity grids and the continental European grid]], signed by the President of the European Commission and the Lithuanian, Latvian, Estonian and Polish heads of state and prime ministers on 28 June 2018. The construction is to be started in 2023, while the commissioning is planned for 2025. The total investment for the Harmony Link project amounts to around 680 million euros, of which €493&nbsp;million will be allocated as EU support from the Connecting Europe Facility.{{citation needed|date=July 2021}}
[[File:HarmonyLink.jpg|thumb|Harmony Link]]
⚫
[[Harmony Link]] is a planned [[high-voltage direct current]] (HVDC) connection between Lithuania and Poland. It total length is almost {{convert|330|km}}, while its capacity is 700&nbsp;MW. The connection goes both underwater and underground. It will connect the Żarnowiec substation in the [[Pomeranian Voivodeship|Polish Pomerania]] region with a newly built 330&nbsp;kV [[Darbėnai]] switching station in the Lithuanian [[Kretinga]] region. The Harmony Link project is the first step set out in the political agreement on the synchronisation of the Baltic electricity grids and the continental European grid, signed by the President of the European Commission and the Lithuanian, Latvian, Estonian and Polish heads of state and prime ministers on 28 June 2018. The construction is to be started in 2023, while the commissioning is planned for 2025. The total investment for the Harmony Link project amounts to around 680 million euros, of which €493&nbsp;million will be allocated as EU support from the Connecting Europe Facility.{{cn|date=July 2021}}


⚫
The Lithuanian electricity transmission system control and data centre from which Lithuania will control its energy system's frequency as from 2025. Therefore, this site was recognised by the Government as a project of national importance already in 2015.{{citation needed|date=July 2021}} This centre is a strategic project in terms of synchronisation because it is the place where the electricity transmission frequency will be controlled as soon as Lithuania finally disconnects from the IPSU/UPS system. It includes both the physical infrastructure, and the technological solutions to ensure [[cyber security]].<ref>{{Cite web|last=Budzinauskas|first=Vytautas|title=Lietuvos elektros energetikos sistema valdoma iš naujo centro|url=https://www.15min.lt/verslas/naujiena/energetika/lietuvos-elektros-energetikos-sistema-valdoma-is-naujo-centro-664-1285102|access-date=24 March 2021|website=15min.lt/verslas|language=lt}}</ref>

⚫
The Lithuanian electricity transmission system control and data centre from which Lithuania will control its energy system's frequency as from 2025. Therefore, this site was recognised by the Government as a project of national importance already in 2015.{{cn|date=July 2021}} This centre is a strategic project in terms of synchronisation because it is the place where the electricity transmission frequency will be controlled as soon as Lithuania finally disconnects from the IPSU/UPS system. It includes both the physical infrastructure, and the technological solutions to ensure [[cyber security]].<ref>{{Cite web|last=Budzinauskas|first=Vytautas|title=Lietuvos elektros energetikos sistema valdoma iš naujo centro|url=https://www.15min.lt/verslas/naujiena/energetika/lietuvos-elektros-energetikos-sistema-valdoma-is-naujo-centro-664-1285102|access-date=24 March 2021|website=15min.lt/verslas|language=lt}}</ref>


== Governance ==
== Governance ==
As from February 2021, the general manager of the company is [[Rokas Masiulis]].{{cn|date=July 2021}} The board consists of:
As from February 2021, the general manager of the company is [[Rokas Masiulis]].{{citation needed|date=July 2021}} The board consists of:


* Algirdas Juozaponis – chairman of the board as from 18 August 2020.
* Tomas Varneckas – chairman of the board as from 29 December 2022.
* Jūratė Marcinkonienė – Member of the Board as from 20 April 2020.
* Mindaugas Keizeris – Member of the Board as from 22 December 2022.
* Domas Sidaravičius – Independent Member of the Board as from 20 April 2020.
* Domas Sidaravičius – Independent Member of the Board as from 20 April 2020.
* Artūras Vilimas – Independent Member of the Board as from 20 April 2020.
* Gediminas Karalius – Member of the Board as from 20 April 2022.


== References ==
== References ==
Line 103: Line 100:


{{European Network of Transmission System Operators for Electricity}}
{{European Network of Transmission System Operators for Electricity}}


{{authority control}}
{{authority control}}


Line 112: Line 107:
[[Category:Companies based in Vilnius]]
[[Category:Companies based in Vilnius]]
[[Category:Government-owned companies of Lithuania]]
[[Category:Government-owned companies of Lithuania]]
[[Category:Government-owned energy companies]]


{{energy-company-stub}}
{{lithuania-company-stub}}

Latest revision as of 21:32, 5 May 2024

Litgrid AB
Company typeGovernment-owned company
Nasdaq Baltic: LGD1L
ISINLT0000128415
IndustryElectricity
Headquarters
Vilnius
,
Lithuania
Area served
Lithuania
Key people
Rokas Masiulis (CEO)
ServicesElectric power transmission
Revenue€418.953 million[1] (2022)
€24.101 million[1] (2022)
-€49.484 million[1] (2022)
Total assets€334.621 million[1] (2022)
Total equity€166.980 million[1] (2022)
OwnerMinistry of Energy (Lithuania)
Number of employees
421 (2023)
ParentEPSO-G AB (97.5%)
Websitewww.litgrid.eu

Litgrid AB is a Lithuanian electricity transmission system operator that operates Lithuania's electricity transmission grid. Litgrid is responsible for the integration of the Lithuanian electricity system into the European electricity infrastructure and the common electricity market.

Litgrid has completed the strategic international connection projects NordBalt (Lithuania-Sweden) and LitPol Link (Lithuania-Poland), and currently it is implementing Lithuania's strategic objective of reorienting its power system for synchronous operation with the continental European power grid. The company has over 300 employees.[2]

As from 2010, the companies shares are listed on the NASDAQ OMX Vilnius stock exchange.[3] 97.5% of Litgrid's shares are owned by EPSO-G UAB which is directly controlled by the Ministry of Energy of the Republic of Lithuania.[when?][4]

History

[edit]

The company was founded in 2010, after the reorganisation of the Lithuanian energy sector in accordance with the requirements of the EU's third energy package. The third energy package, approved in the European Union in 2009, stipulates the requirement to separate the transmission and production from grid ownership in the electricity and gas sectors. During 2010–2011, Litgrid took over the ownership and maintenance of the electricity transmission grid from Lietuvos energija (currently – Ignitis group), while the latter company remained the owner of the largest power plants in the country.[citation needed]

As from 1 October 2012, the company is fully separated from the companies that control electricity production, supply and distribution. The company is directly responsible for the implementation of 14 synchronisation projects of special national importance as approved by the Government.[5]

Operations

[edit]

According to the data of 2021, the company owns 7,000 km of overhead lines, over 200 transformer substations and 17 inter-system lines connecting to other countries, constantly maintaining them to ensure appropriate electricity transmission for all residents, institutions and other organisations in the country. The Lithuanian transmission networks have four 330 kV power line connections with the Latvian, four connections with the Belarusian and three connections with the Russian (Kaliningrad) energy systems.[6]

Synchronisation

[edit]

Synchronisation of Lithuania's energy system with the continental European power grid is necessary to ensure the country's energy independence. The power energy systems of the Baltic states are still dependent on the frequency control operations conducted in Russia, but in 2025, the Baltic power systems will join the single synchronous pool of European systems.[citation needed]

On 20 June 2019, in Brussels, a political agreement was signed on the implementation of the synchronisation of the Baltic electricity system with the European grid. The agreement established a specific action plan and key projects to be implemented until 2025, when the Baltic states are to join the secure and reliable European energy system.[citation needed]

The value of the project for the integration of the Baltic and continental European power grids is around 1.6 billion Euros, of which over 1 billion euros are allocated by the European Union.[citation needed]

The Baltic synchronisation with the continental European grid requires not only a new connection with Poland, but also the enhancement of internal transmission networks and preparation of the systems for disconnection from the IPS/UPS and for independent frequency control. In 2019, the Lithuanian Government approved a list of 14 synchronisation projects, including the construction of the Harmony Link connection with Poland,[7] expansion of the existing LitPol Link connection[8] by adapting it for synchronous operation, and installation of 3 synchronous compensators. At the end of 2020, 3 projects had been completed: the expansion of the Bitėnai substation, completion of a new 110 kV overhead line Pagėgiai-Bitėnai, and reconstruction of the 330 kV power transmission line Elektrėnai Power Plant-Vilnius.[9]

Key projects

[edit]
Main articles: LitPol Link, NordBalt, and Harmony Link

The LitPol Link started its operations in 2015. It was the first connection between the Baltic and Western European electricity infrastructures. This high-capacity connection (400 kV power transmission line) with Poland enables synchronous operation with the energy systems of other European countries and the development of the common European electricity market. Litgrid constructed the LitPol Link in cooperation with the Polish power grid operator PSE. Implementation of this strategic project required an extensive technical design work, while the construction itself was carried out during 2014–2015. In addition, 11 other smaller-scale network projects were completed.[citation needed]

The purpose of the NordBalt project[10] was to lay an inter-system power connection between the Lithuanian and Swedish power transmission systems. The connection's length is around 450 km, while its capacity is 700 MW. This connection is made of underwater and underground high-voltage DC cables and converter stations in Lithuania and Sweden. NordBalt started its operation in 2015. This connection between Lithuania and Sweden ensures more diversity in the supply of electricity, which reduced the price of electricity by 30% in the first year of its operation. Litgrid completed the strategic electricity project in collaboration with the Swedish power transmission system operator Svenska kraftnät.[citation needed]

Harmony Link is a planned high-voltage direct current (HVDC) connection between Lithuania and Poland. It total length is almost 330 kilometres (210 mi), while its capacity is 700 MW. The connection goes both underwater and underground. It will connect the Żarnowiec substation in the Polish Pomerania region with a newly built 330 kV Darbėnai switching station in the Lithuanian Kretinga region. The Harmony Link project is the first step set out in the political agreement on the synchronisation of the Baltic electricity grids and the continental European grid, signed by the President of the European Commission and the Lithuanian, Latvian, Estonian and Polish heads of state and prime ministers on 28 June 2018. The construction is to be started in 2023, while the commissioning is planned for 2025. The total investment for the Harmony Link project amounts to around 680 million euros, of which €493 million will be allocated as EU support from the Connecting Europe Facility.[citation needed]

The Lithuanian electricity transmission system control and data centre from which Lithuania will control its energy system's frequency as from 2025. Therefore, this site was recognised by the Government as a project of national importance already in 2015.[citation needed] This centre is a strategic project in terms of synchronisation because it is the place where the electricity transmission frequency will be controlled as soon as Lithuania finally disconnects from the IPSU/UPS system. It includes both the physical infrastructure, and the technological solutions to ensure cyber security.[11]

Governance

[edit]

As from February 2021, the general manager of the company is Rokas Masiulis.[citation needed] The board consists of:

  • Tomas Varneckas – chairman of the board as from 29 December 2022.
  • Mindaugas Keizeris – Member of the Board as from 22 December 2022.
  • Domas Sidaravičius – Independent Member of the Board as from 20 April 2020.
  • Gediminas Karalius – Member of the Board as from 20 April 2022.

References

[edit]
  1. ^ a b c d e "Litgrid, AB revenue, profit", www.rekvizitai.vz.lt
  2. ^ "LITGRID AB (LGD1L) Stock Price & News - Google Finance". www.google.com. Retrieved 26 October 2022.
  3. ^ "Litgrid". www.litgrid.eu. Retrieved 24 March 2021.
  4. ^ "Moody's assigns Baa1 credit rating to EPSO-G Group | EPSO-G". www.epsog.lt. Retrieved 26 October 2022.
  5. ^ "COMPANY'S CONDENSED INTERIM FINANCIAL STATEMENTS, PREPARED ACCORDING TO INTERNATIONAL FINANCIAL REPORTING STANDARDS AS ADOPTED BY THE EUROPEAN UNION (UNAUDITED), FOR THE SIX-MONTHS PERIOD ENDED 30 JUNE 2020, PRESENTED TOGETHER WITH INTERIM REPORT" (PDF).
  6. ^ "Lietuvos energija's new unit is being connected to the power grid".
  7. ^ "Litgrid". www.litgrid.eu. Retrieved 24 March 2021.
  8. ^ "Litgrid". www.litgrid.eu. Retrieved 24 March 2021.
  9. ^ ""Litgrid" įgyvendino trečią iš 14 sinchronizacijos projektų – Elektrėnus ir Vilnių jungianti linija sustiprinta dvigubai". enmin.lrv.lt (in Lithuanian). Retrieved 24 March 2021.
  10. ^ "Litgrid". www.litgrid.eu. Retrieved 24 March 2021.
  11. ^ Budzinauskas, Vytautas. "Lietuvos elektros energetikos sistema valdoma iš naujo centro". 15min.lt/verslas (in Lithuanian). Retrieved 24 March 2021.
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