IGN AB Ignitis Grupe

 
TIDMIGN 
 

AB "Ignitis grup " (hereinafter -- the Group) informs that on 30 December 2022 its subsidiary AB "Ignitis gamyba" (hereinafter -- the Company) concluded contract with a Lithuanian electricity transmission system operator LITGRID AB regarding electricity generation facilities' availability services (hereinafter -- Facility Availability Service) in 2023. The purpose of the services is to ensure the availability of electricity generation equipment and stable operation of Lithuanian electricity system during isolated regime of the electricity system, and to avoid consumer load shedding in case of emergency situations in other Lithuanian electricity systems.

According to the final results of the Facility Availability Service auction published by LITGRID AB on 30 November 2022, the Company will provide the Facility Availability Service in 2023 in the following capacity: 260 MW -- Unit 7 of Elektr nai Complex (hereinafter -- EC) (0 MW in 2022), 260 MW -- Unit 8 of EC (1 MW in 2022) and 371 MW -- Combined Cycle Gas Turbine (hereinafter -- CCGT) (371 MW in 2022). It must be noted that in 2022, Unit 7 of EC and Unit 8 of EC have been providing a tertiary active power reserve service to LITGRID AB at the capacity of 260 MW/h and 259 MW/h respectively. Starting from 2023 the service is being abandoned.

Preliminary value of the contract for the Equipment Availability Service to be provided by EC in 2023 amounts to about EUR 84 million.

Further information about the results of the electricity generation facilities' availability service auction is published on LITGRID AB website. https://www.globenewswire.com/Tracker?data=7rfVFBO9sv5iSHnW9fGlb6xQBUsm6edA0fad_AtPk_znWp9zxtpewBNu-GoMNhdROg2d3sSfPmuDxD57xj_hqzdDVnjWx9wZ2Ia9rdF34W-72R9b87hxXzGNRPwfPhCF8GSWL5odLlCFarNgxqr8uaxUqEaWnBdfbAKw2JeYO8dqrVyZbnfWJCODqzlpKw759hybkOxGjnPNXnDtVHKucSGeRlE_ZqcEdPzL9f5ZIgJcJ1XCctNme-vkZhQi94MHPABur5H_Y05_AA2xE36Lsw==

According to this contract, the Company in 2023 shall also undertake to prepare for uninterrupted electricity generation using the CCGT located at EC in accordance with the electricity generation schedule provided by LITGRID AB. According to the agreement, the amount that LITGRID AB can order to generate is about 0.5 TWh, for which a little more than 1 TWh of natural gas reserves have been formed.

The total operational electricity generation facilities' capacity of the Company is 2,055.8 MW, out of which: 1,055 MW -- Elektr nai Complex, 900 MW -- Kruonis Pumped Storage Hydroelectric Power Plant, 100.8 MW -- Kaunas Hydroelectric Power Plant.

For more information please contact:

Domas Jurevičius

Public Relations Manager at Ignitis Group

https://www.globenewswire.com/Tracker?data=3Llx7Ohnu_q2ICyLNdK6bNfC-Ufa83q8cH6M22z4W29-5WQLdN1LRNkEbPdPqiJd6bNzyYcmlnmobIfH91Temhul_VUF9kss8GjKfAwCKMG-0T9zqux4O-5YZhfAfRr9 domas.jurevicius@ignitis.lt

+370 610 33297

(END) Dow Jones Newswires

December 30, 2022 09:30 ET (14:30 GMT)

Grafico Azioni AB Ignitis Grupe (LSE:IGN)
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