“Elektrum Lietuva” offers a competitive offer to users in the dark: a fixed price for 36 months
Electricity is expensive in the market and as the cold season approaches, one of the largest independent electricity suppliers in the country, the Latvian concern “Latvenergo” is owned by a subsidiary company “Elektrum Lietuva”, manages the price risk and it is possible to fix a competitive electricity tariff for 36 months, it will not change for the entire contract period.
The manager of Elektrum Lietuva, Martynas Giga, says that any other Lithuanian electricity user can choose this plan, but at the moment it should be especially relevant for Perlas energija customers, who were unexpectedly informed about the constantly changing, need to forecast electricity price exchange. . Residents who choose another independent supply before the 18th of this month will avoid the exchange price and uncertainty.
“About 180 thousand Lithuanian consumers of electricity have found themselves in limbo and no longer have much time for maneuvers. So that they have something to choose from, we offer a plan that will protect against surprises and unpleasant surprises. In our opinion, it is competitive, and we can make a long-term commitment to customers due to a number of electricity reasons: a strong strategic shareholder, many years of experience and our own production capacity, which we are constantly expanding,” says the company manager.
The company offers customers a rate of 38.2 cents per kilowatt-hour (kWh) for the entire contract period. After fixing the price for 36 months, in the months of September-December of this year, applying the compensation of 9 cents provided by the state, the residents’ taxes will be 29.2 cents per kWh, and from January, the price of 38.2 cents per kWh will apply for the remaining 32 months.
Depending on the volume of electricity consumption, the company will apply individual discounts.
“Why exactly 36 months? Because it is the optimal terminal. We believe that in three years we will have more and more diverse local production in Lithuania, which will allow prices to decrease. A shorter price lock can be risky – you may have to extend the contract at even higher prices. And too long a fixation period can bring losses to the population when we see a boom in solar and wind energy in three years”, – the head of the companies.
When the decision-makers talked about the possible strict regulation of electricity supply, the manager of “Elektrum Lietuva” points out that “Latvenergo” groups have many years of experience in liberalizing the electricity supply market in other Baltic countries in a similar way.
“The situation in Lithuania caused a lot of anxiety and that is completely understandable. Other Baltic countries have not avoided similar cases, because not all market participants can specifically operate in the market. It is very disappointing that such a large part of Lithuanian consumers were disappointed at this extraordinary time, but we invite you to choose a reliable, predictable and independent electricity supply that fulfills its obligations. We produce electricity, we supply it, we are able to manage risks, so we boldly and responsibly invite all residents, not only those affected in this situation, to choose us”, says M. Giga.
About the company:
“Elektrum Lietuva” is a subsidiary of Latvenergo (Latvia), the largest electricity producer in the Baltic States, providing energy solutions to domestic and business customers in Lithuania. According to Eurostat data, even 50 percent Electricity produced by “Latvenergo” comes from renewable sources. The company “Elektrum Lietuva” currently supplies electricity to more than 12 thousand companies, their electricity supplier companies chose over 100,000 households, the company supplies gas to almost 500 companies, has installed more than 700 solar power plants and 1.5 megawatt (MW) power to 1 million solar park on the seashore worth EUR. Five more new solar parks are under development, with a total capacity of more than 20 MW.
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