Lithuania's talks with Sweden on excess electricity profits 'ongoing' – official

  • 2022-11-30
  • BNS/TBT Staff

VILNIUS – Lithuania's talks with Sweden, from which it imports a large part of its electricity, on sharing excess profits of electricity producers are still ongoing, Deputy Energy Minister Inga Ziliene said on Wednesday. 

A meeting between Lithuanian and Swedish government officials is scheduled for next week, according to Ziliene.  

"Negotiations with Sweden are ongoing. All the documents have been sent. A number of meetings have taken place, and another meeting with Sweden's top-level officials, ministers, is planned for next week," she told reporters. 

The vice-minister did not answer why no agreement with Sweden had been reached by December 1, as provided for in the respective EU regulation. 

In late September, EU energy ministers agreed on a market revenue cap of 180 euros per megawatt-hour "for electricity generators, including intermediaries, that use so-called inframarginal technologies to produce electricity, such as renewables, nuclear and lignite." 

The regulation also says that in situations where a member state's net import dependence is equal or higher than 100 percent, they should conclude an agreement by December 1, 2022 to share the surplus revenue adequately with the exporting member state.