INTER RAO Lietuva
INTER RAO Lietuva is a leading player in the electricity market in the Baltic countries and one of the largest independent suppliers of electricity in Lithuania. Since December 18th 2012 INTER RAO Lietuva is listed on the Warsaw Stock Exchange.
51 per cent of INTER RAO Lietuva shares are owned by RAO Nordic OY, a Finnish subsidiary of the energy concern INTER RAO UES, 29 per cent of shares are held by the Lithuanian investment company UAB “Scaent Baltic” and 20 per cent of shares are in a free float.
The INTER RAO Lietuva Group is comprised of subsidiaries INTER RAO Eesti OÜ, SIA “INTER RAO Latvia”, IRL Polska SP z o.o. and UAB “Vydmantai Wind Park”.
Structure of the group
AB INTER RAO Lietuva is a parent company of the group of companies and is involved in wholesale and retail trade of electricity in Lithuania, i.e. it is the largest independent supplier of electricity and player of the electricity exchange, in terms of electricity volumes. At the end of 2014 the share of INTER RAO Lietuva of the wholesale in the Lithuanian electricity exchange was 88 percent (data from the National Control Commission for Prices and Energy).
The company was founded in 2002, when Lithuanian electricity market had been liberalised and independent suppliers of electricity and other open market players had been legalised. In 2003 INTER RAO Lietuva was granted a license of independent supplier in Lithuania and an electricity export authorization, and in 2004 it obtained an electricity import licence, which enabled the company to start electricity trading activity.
The Company actively develops its trade relations with partners in the Baltic and Scandinavian countries, Russian and Belarusian energy companies, large-scale electricity consumers and business customers. Since the autumn of 2009 INTER RAO Lietuva has been an authorised trading representative of the Russian energy concern INTER RAO UES in the Baltic countries.
INTER RAO Lietuva is one of the largest tax payers in Lithuania:
- In 2015 the company paid 28.3 million Eur to the state budget and occupied the 24th place in the list of the largest tax payers drawn by the State Tax Inspectorate.
- In 2014 the company paid 25.3 million Eur to the state budget and occupied the 25th place in the list of the largest tax payers drawn by the State Tax Inspectorate.
- In 2013 the company paid 29.2 million Litas to the state budget and occupied the 17th place in the list of the largest tax payers drawn by the State Tax Inspectorate
- In 2012 the company paid 34.2 million Litas to the state budget and occupied the 17th place in the list of the largest tax payers drawn by the State Tax Inspectorate.
SIA INTER RAO Latvia was established in the January of 2010 with the aim to create a competitive electricity trading company in the Latvian market.
In March 2010 INTER RAO Latvia obtained a licence of independent electricity supplier, enabling to perform retail trade of electricity in Latvia.
The company is one of the country’s largest electricity suppliers, providing electricity to business customers and the state sector in Latvia. The company aims at expanding its activity in the country, by providing a possibility for customers to optimise energy use and increase competitiveness.
INTER RAO Eesti was established in January 2010 with the aim to create a competitive a competitive electricity trading company in the Estonian market.
INTER RAO Eesti plans to supply electricity to the country’s largest consumers based on direct agreements for wholesale trading.
Wholesale of electricity will have a potential of growth in Estonia after building new electricity connections with Finland (EstLink 2). The demand on imported electricity is forecast to increase from the beginning of 2016, when stricter environmental protection requirements for energy producers will come into force in the European Union. Moreover, implementation of LitPol 1 and 2 as well as NordBalt connection projects will open new opportunities for development in the Baltic Sea region.
IRL Polska Sp. z o.o. is a subsidiary of INTER RAO Lietuva in Poland. The company was established in September 2012 to implement the aim of the group of companies to develop activity in the region.
On 9 January 2014 AB “INTER RAO Lietuva” subsidiary “IRL Polska Sp. z o.o.” has been granted the license for electricity trading in Poland. On 22 of May 2014, IRL Polska Sp. z o.o. begins electricity trading operations.
IRL Polska sp. z o.o. obtained direct access in the so called Day-Ahead and Intraday Market (RDNiB) and Derivatives Market (RTT) on 10 October 2014.
For the medium and long period, after the start of new connections LitPol 1 and 2, IRL Polska plans to provide services of electricity import and export. In a long run, the company is going to expand the range of services and start supplying electricity to retail consumers.
UAB Vydmantai Wind Park operates 30 МW wind power park in western Lithuania, in Kretinga district, close to the settlements of Vydmantai and Kiauleikiai in the villages of Kveciai and Rūdaičiai.
The park is made up of 15 E-70 type wind turbines produced by German company Enercon GmbH. Each turbine has an installed capacity of 2 MW. The park is one of the first and one of the largest wind parks in Lithuania and anywhere in the Baltic states.
Vydmantai Wind Park is a subsidiary of INTER RAO Lietuva, AB, the company was established in 2011.