Atel Energy Lietuva receives energy trading licence

The Atel subsidiary Energy Lietuva UAB, which was founded in October, is one of the very first foreign companies to receive an energy trading licence for Lithuania.

Atel – First step in the Baltic States

Atel Holding Ltd is expanding further to the east and recently founded an energy trading subsidiary in the Lithuanian capital city of Vilnius. Atel Energy Lietuva UAB has been awarded, as one of the first foreign electricity companies, a trading licence for the Lithuanian electricity market. The company will take up its operational business activities next year.

Today, Lithuania exports a significant part of its electricity generation. Whereby the prices for energy lie considerably below the level in the EU. Atel wants to take advantage of the opportunities offered and make an entry into Lithuanian energy trading. At the end of 2009 the Ignalina nuclear power station will be decommissioned. 70% of the electricity generation capacity of the Baltic states will thus disappear. Atel plans to import electricity to Lithuania from 2010.

Lithuania has a population of some 3.5 million. The energy consumption per head is around 4,500 kWh.

Atel Holding Ltd