VILNIUS - Lithuania is negotiating exemptions and compensation as the European Commission is looking into ways to cut record-high electricity prices for consumers and proposes redistributing the windfalls of low-cost power plants, Lithuanian Energy Minister Dainius Kreivys says, hoping to reach agreement with Brussels.
"Another measure (proposed by the EC - BNS) is how to cap generators that are cheaper than gas and get the same price as gas. Here, too, we have the problem that Lithuania does not have such generation and practically imports everything. That is why we are negotiating with the Commission in this case and we hope that we will be able to reach agreement (...) that Lithuania will be granted some exceptions and we will also receive some compensation," Kreivys said at the parliament on Tuesday.
"We are doing our best to make sure that our people do not suffer when Europe introduces certain price compensation mechanisms, so that our people can also get compensation for those high prices," the minister added.
Last Friday, Kreivys attended an extraordinary meeting of the EU Transport, Telecommunications and Energy Council and said he and German Vice-Chancellor and Federal Minister for Economic Affairs and Climate Protection Robert Habeck agreed that Lithuanian and German experts would look for a common solution on how to fairly distribute the windfalls of low-cost wind, solar and nuclear power producers to consumers.
In his words, one way is to distribute the money not based on where the electricity is produced, but based on where it's consumed.
Earlier, Kreivys said numerous times that the EC's proposal to redistribute the windfalls of electricity producers that do not produce electricity using expensive gas to consumers is completely unacceptable for Lithuania.