"I think we will lower the price [of electricity] in the middle of the year as there'll be new possibilities to purchase electricity at lower prices via the newly built interconnections. That effect has not yet been included in the rate hence we'll feel it later and will be able to recalculate [the rate] in the middle of the year," Dalius Misiunas said in an interview to Ziniu Radijas on Monday.
The National Commission for Energy Control and Prices announced last week that Lesto's public supply service price cap would decline by 3% next year, which will bring the final price of electricity for the power distribution grid operator's customers by around 3% as well.
As estimated by Lietuvos Energija CEO, the wholesale price of electricity might decrease by approximately 20% in 2016 from 2015 thanks to electricity interconnections with Sweden [NordBalt] and Poland [LitPol Link].
"Much will depend on technical factors – whether the operation of the interconnections will be stable, what Poland will do with the distribution of its capacities because it also have certain strategies..., and, of source, technical reliability of NordBalt," Misiunas said.
Energy Minister Rokas Masiulis has also said that the price of electricity might be reduced somewhat in the first half of 2016, after assessing the effect of new power interconnections with Poland and Sweden on electricity prices.
The energy regulator should announce the final electricity prices for consumers on Monday.
