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Published: 2022-02-09 08:01:00 CET
Ignitis grupė
Notification on material event

Correction: On the supplementary agreement to the isolated regime services contract of Flexible Generation segment

The wording in the second and fourth paragraphs has been clarified

AB “Ignitis grupė” (hereinafter – the Group) informs that on 8 February 2022 its subsidiary AB “Ignitis gamyba” (hereinafter – the Company) concluded a supplementary agreement (hereinafter – the Agreement) to the contract concluded with transmission system operator LITGRID AB (hereinafter – the TSO) on 31 December 2021 for providing Isolated Regime services in 2022 (hereinafter – the Contract).

According to the concluded Agreement, TSO, after evaluating a potential need of Isolated Regime, may order the Company to prepare for uninterrupted electricity generation in advance, according to the provided electricity generation schedule. Electricity will only be generated if the TSO orders to generate electricity. After the order, the Company, pursuant to the Rules on Electricity Networks, shall undertake to execute the ordered generation schedule in accordance with the conditions set out in the Agreement and to acquire the natural gas volume necessary.

The selling price of the electricity generated according to the Agreement will meet the provisions of the Contract.

The total amount of electricity that the TSO may order to generate under the Agreement amounts to approx. 0.5 TWh.. To generate the required amount of electricity approx. 1.1 TWh of natural gas is needed. Article 461.15 of the Rules on Electricity Network, approved by the Order No. 1-116 of the Energy Minister of 18 June 2012, provides that costs of fuel storage, transportation, safekeeping and trading as well as other related costs shall be compensated in accordance with the scope of isolated regime services.

According to the Contract concluded last year, the Company shall provide isolated regime services in 2022 in the scope of 372 MW.

The Group will not inform about the conclusion of the acquisition contract of natural gas in a separate material event notification.

For more information please contact:
Artūras Ketlerius
Head of Public Relations at Ignitis Group
arturas.ketlerius@ignitis.lt
+370 620 76076