In the first half of 2021, the energy transmission and exchange group EPSO-G earned EUR 150.9 million in revenue. This represents a 14% rise from EUR 132.5 million in the same period a year ago. The positive results of the Group’s performance were mostly influenced by the economic development of Lithuania, climatic conditions, and the increase in the volume of transmitted electricity and gas.
A significant increase was noticed with the majority of the Group’s key indicators: this year, the transferred volume of electricity increased almost by one-tenth up to 5 385 GWh, and the provided volume of gas rose by 17% and amounted to 14 707 GWh. Turnover of the Natural Gas Exchange has increased almost by one fifth up to 4 559 GWh. In the Energy Exchange, the amount of sold biofuels decreased to 2 232 GWh in the first half of the year.
During this period, the net profit of EPSO-G Group amounted to nearly EUR 28 million; thus, it increased by 43% in comparison with the same period last year (EUR 19.6 million). The Group’s EBITDA rose to EUR 48.6 million and was up by one third in comparison with the same period in 2020 (EUR 37 million).
While implementing strategic projects concerning the country’s energy infrastructure, the investments of the EPSO G Group amounted to EUR 45.3 million. This year, the investments into the gas transmission system by Amber Grid, belonging to the Group, constituted EUR 26.2 million, while the greatest part of the investments concerned the project of the Gas Interconnection Poland-Lithuania (GIPL) and amounted to EUR 22.5 million. The investments of Litgrid constituted EUR 14.5 million, of which 38% were allocated to the implementation of strategic electricity projects, whereas 62% were appointed to the network reconstruction and development as well as the improvement of the company’s activities.
“The increasing economy of the country, price changes of the regulated services, development in non-regulated markets, and successfully managed costs of the Group’s activities determined positive results of the Group. In turn, they provide possibilities to continue the implementation of the strategic projects concerning the country’s energy infrastructure and investments in them”, commented Rolandas Zukas, CEO of EPSO-G.
This year, the engineering networks’ construction and repair company Tetas successfully implemented the reconstruction work of electricity supply and transmission equipment and, during the first half of the year, mounted more than 2 MW of solar panels, as well as efficiently expanded its activities in the Western European markets.
The trade turnover of the Amber Grid subsidiary - GET Baltic - increased to a record high of 4.6 TWh in the first half of this year. In comparison with the first half of 2020, the trade turnover rose by 18%. A total of almost 12 thousand transactions were concluded - this represents a 17% rise while comparing to the same period last year. GET Baltic is a licensed natural gas market operator administrating the electronic trading system for trading natural gas products in the market areas located in Lithuania, Latvia, Estonia, and Finland.
During the first six months of this year, in the Baltpool Biomass Exchange, more than 3.7 thousand transactions were concluded, worth up to EUR 26 million. In the company's heat auction data management system, 2.7 GWh of heat was traded, while, in the electronic trading timber system, 1.8 thousand transactions were made.
Company Energy Cells, established in January of this year, is successfully implementing the project of energy storage system. By carrying out this project, next year the devices with total power and capacity of 200 megawatts will be installed and serve as an isolated operation reserve ensuring reliable and stable operation of the Lithuanian power system until the synchronisation with the continental European networks and, in the future, integration of rapidly growing renewable energy sources. At the end of July, the Government appointed the company as the operator of storage devices necessary to ensure the emergency reserve for isolated operations. Currently, a public international tender for the procurement of the design, production, connection, and maintenance services of the energy storage devices is taking place.
This year, EPSO-G is continuing its activities of research and innovations seeking to ensure a rapid transition to renewable energies and green transformation in various country's economic sectors.