Energy industry unbundling starts

  • 2013-06-14
  • From wire reports

Implementation of EU 3rd Energy package in Lithuania’s natural gas sector moves forward according to plan: the spin-off of the natural gas transmission activity from the company Lietuvos Dujos began on June 11, reports ELTA. The statute for the new company, Amber Grid, which will further perform gas transmission activities, were adopted in the general meeting of Lietuvos Dujos shareholders.

These actions are part of the 3rd EU Energy package implementation. Full implementation of the energy package is necessary in order to create a competitive energy market. Lithuania has chosen “ownership unbundling” in the gas and electricity sectors - this will create competitive conditions and increase transparency. The managing board of Amber Grid was also elected on June 13.

According to the plan, the assets, rights and obligations related to the unbundled activities of the company will be fully transferred to Amber Grid as of July 31, 2013. The unbundling of the control activity will be finished by Oct. 31, 2014.