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Published: 7/2/2019. Updated: 7/2/2019

National Energy Regulatory Council starts work from 1st July 2019 as an economic and technical regulatory authority in the Republic of Lithuania


en_vert.jpgThe National Energy Regulatory Council (hereinafter – the Council), as a consolidated institution, following the process when the State Energy Inspectorate under the Ministry of Energy has been reorganised by way of merger and joined to the National Commission for Energy Control and Prices, starts its activities from 1st July 2019 and takes over the economic and technical regulation and market supervision and control functions of energy market in the Republic of Lithuania. The consolidation of two institutions was approved by the Parliament of the Republic of Lithuania on 14th February 2019 and is based on the goal to seek the improvement of the efficiency and quality of energy and drinking water sectors supervision.

The pooling of competencies of the two institutions in the Republic of Lithuania, which had been constantly cooperating before the merger was executed, will ensure the implementation of the EU electricity and natural gas sector network codes, reduce the administrative burden of supervision for the regulated entities, will help to solve customers complaints faster and more efficiently. In addition, work together will strengthen the competencies of the Council employees in technical and economic evaluation of investments of the energy companies, and that will help to ensure the reliable and secure services for customers at cost reflected prices.

The Council will perform the following technical functions alongside economic market regulation: maintenance of energy facilities and installations; control of energy workers’ certification; testing of energy efficiency; and issuing certificates of energy equipment operation activities.

Also a new function – to oversee and license the participants in wholesale and retail market of petroleum products – has been assigned to the Council since 1st July 2019. The institution will issue the permissions or licenses to the companies operating in this sector, following the assessment of the financial, technological and managerial capacity of them.

Current Chair and members of Board remain at their office till completion of their term. The Council website is www.vert.lt. From now on, please contact us by email address info@vert.lt.

The Council expects to keep constructive cooperation with all institutions, associations and regulated entities at national, regional and international levels to achieve common goals in the energy and drinking water sectors.