New energy group EPSO-G recorded growth in electricity and gas transmission and consumption during the first quarter of 2026, while biomass trading volumes also increased. In the first quarter of this year, adjusted net profit amounted to EUR 8.2 million, while adjusted EBITDA reached EUR 22 million.
“During the first three months of this year, we repeatedly set records for electricity and gas consumption and transmission due to cold weather, while maintaining a steady pace of growth in renewable energy. The number of commercial energy storage facilities connected to the grid is growing rapidly, which has a positive impact on the balancing services market, strengthens system stability, and reduces price fluctuations. In April, for the first time in the country’s history, renewable energy sources fully met Lithuania’s electricity demand for an entire week. Since the start of the year, we have already had 37 days when the country’s electricity demand was fully covered by domestic production. Electricity imports account for about a quarter of the system’s demand. This clearly shows that we are steadily moving toward full energy independence,” says Mindaugas Keizeris, CEO of EPSO-G group.
Local electricity generation has increased
During the first quarter of 2026, the installed capacity of solar and wind power plants and other renewable energy sources connected to Lithuania’s electricity transmission and distribution networks reached 6.2 GW (compared to 4.3 GW during the corresponding period in 2025).
During the first three months of this year, 2.78 terawatt-hours (TWh) of electricity were generated in Lithuania, 10% more than during the same period last year, when generation reached 2.54 TWh. Electricity production in Lithuania was 10% higher than during the same period a year ago, with wind energy production, which grew by 28%, accounting for the largest share. Domestic electricity production met 68% of Lithuania’s electricity demand, and 69% of electricity production came from renewable energy sources.
During the first quarter of 2026, 107 gigawatt-hours (GWh) of biomethane were also fed into the grid – 2.8 times more than during the same period last year (38 GWh).
Financial Results
In the first quarter of this year, the EPSO-G group adjusted net profit amounted to EUR 8.2 million, a decrease of nearly 10% compared to the same period last year (EUR 9.1 million).
The Group’s adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) calculated after adjusting for the results of transmission operators due to temporary regulatory differences, and after eliminating the results of asset revaluation and other non-recurring gains or losses, amounted to EUR 22 million, an increase of nearly 3% year-on-year (EUR 21.4 million).
Due to temporary regulatory effects, the EPSO-G group’s unadjusted net profit amounted to EUR 50.1 million, whereas in the first quarter of 2025 the Group had incurred a loss of EUR 22.3 million. These effects were driven by increased volumes of transmitted electricity and natural gas due to the prolonged and unusually cold winter, which boosted revenue and improved financial results, and will be reflected in future pricing adjustments.
Unadjusted EBITDA amounted to EUR 69.5 million, whereas in the January–March period of last year, this figure was negative at EUR 16 million. These results were primarily driven by significantly higher costs of ancillary services in the electricity transmission business (Litgrid), due to higher balancing reserve costs than those included in the tariff by the regulator, as well as other factors. Temporary regulatory differences are offset during subsequent regulatory periods.
The EPSO-G group’s investments in infrastructure designed to strengthen the security, reliability, and resilience of transmission systems amounted to EUR 32.2 million—nearly 27% less than in the first quarter of 2025.
Transmission Network Performance Indicators
In the first quarter of 2026, the amount of electricity transmitted through Litgrid’s high-voltage transmission networks to meet the country’s needs reached 3.1 TWh, which is nearly 15% more than during the corresponding period in 2025 (2.7 TWh).
Final electricity consumption in Lithuania from January to March was 3.6 TWh. This is 12% more than during the same period last year, when the figure stood at 3.2 TWh. Growth in electricity consumption was recorded across all sectors: residential, services, industry, agriculture, and transportation.
During the first quarter of 2026, 1.9 TWh of electricity was imported into Lithuania, 20% more than during the same period last year, while 0.6 TWh was exported, or 8% more than last year.
In the first quarter of 2026, Lithuania consumed 6.8 TWh of natural gas, which is 19% more than during the same period last year (5.7 TWh). The main reason for this growth is the prolonged and colder-than-usual winter, which led to a significant increase in gas demand for heat and power generation.
At the beginning of this year, gas transmission to other EU countries and Ukraine increased by 88% compared to the same period last year, reaching 5.7 TWh (3 TWh last year). Gas transmission from Lithuania to Poland via the Santaka gas metering station increased 2.5-fold in the first quarter of this year—to 1.5 TWh—compared to 0.6 TWh during the same period last year. The country’s gas pipelines to Poland became a crucial link through which gas was transmitted to Ukraine.
Gas flow from Poland to Lithuania surged 33-fold in the first quarter of 2026—from 56 GWh to 1.9 TWh. Gas transmission from Poland to Lithuania during the exceptionally cold winter helped ensure a reliable gas supply for the entire region.
The largest volume of gas (4.2 TWh) was transmitted to Latvia via the Kiemėnai interconnector. This is 72% more than in the first quarter of 2025, when 2.4 TWh of gas was transmitted in this direction.
During the first three months of this year, 10.2 TWh of gas was injected into the system from the Klaipėda liquefied natural gas terminal, which is 37% more than during the same period last year (7.4 TWh).
Growth of the biomass market
In the first quarter of 2026, on the Baltpool energy exchange, Lithuanian, Latvian, Estonia, and Poland, as well as independent heat producers and industrial companies, purchased 2.2 TWh of biomass – 12% more than in the corresponding period of 2025 (1.96 TWh). The total value of the transactions amounted to 66 million euros, a 56% increase compared to the previous year. This growth was driven by a significant increase in the average transaction price.
EPSO-G group of companies consists of the holding company EPSO-G and six directly owned subsidiaries: Amber Grid, Baltpool, Energy cells, EPSO-G Invest, Litgrid and Tetas. EPSO-G and the Group’s companies also hold shares in Rheinmetall Defence Lietuva, Baltic RCC OÜ and TSO Holding AS. The Ministry of Energy of the Republic of Lithuania exercises the rights and obligations of the sole shareholder of EPSO-G.