Lithuanian electricity prices on the rise

VILNIUS 's The price of electricity in Lithuaniais set to increase by 7 centas (2 euro cents) to 0.4 litas per kilowatt-hour, resulting in a price increase for commercial consumers of 5.3 and 6.5 centas, including VAT.

The management boards of VST and RST set the new prices, which do not include VAT, on Friday, the companies said.

The prices are yet to be approved by the National Commission for Prices and Energy, which is to announce final prices to consumers in late November.

"The upper price limits would allow increasing the electricity distribution price by 5 centas, but the companies (RST and VST) agree to a rise of 0.9-1 centas," Virgilijus Poderys, the chairman of the commission, told reporters.

"If the distribution price rose by 1 centas, then the overall increase would be 5.5 centas per kWh. The total price for a household should be around 33.5 centas per kWh, plus the value added tax," he said.

VST, the operator of the western half of the national distribution grid, is set to increase the price for households by 5.93 centas per kWh, and the price for commercial consumers, by 4.5 centas. Rytu Skirstomieji Tinklai (RST), the operator of the eastern half, intends to increase its prices by 5.93 and 5.5 centas, respectively.