The economics committee endorsed the VERT 2021 Activity Report

The Economic Committee unanimously approved the 2021 Resolution of the State Energy Regulatory Council (VERT) and looks forward to further mutual cooperation on consumer issues, especially in the current dynamic market situation.

The chairman of the Economic Committee, Kazys Starkevičius, thanked VERT for protecting consumers and warning where their interests could be harmed. “It simply came to our notice then. A respectable example is when VERT is looking for solutions to supply Lithuanian consumers with the cheapest energy raw materials, cooperating with the countries of the European Union in all possible ways. The Committee on Economic Affairs welcomes the work of VERT and wishes them every success, and we are seeing the result today. At the same time, however, I would like to emphasize that in order to have insight into this important sector, it is necessary to use qualified experts with the appropriate remuneration. Thank you, colleagues, the chairman of VERT and the whole team for their productive work. The Economics Committee is always waiting for VERT with new ideas. Good luck! ”Says K. Starkevičius.

According to Renatas Pocius, Chairman of VERT, VERT in 2021 saved consumers 88 million. Eur. : “It is the result of consistent expert work that will be felt by every energy consumer. One euro for financing VERT “brings” 12 times more benefits to Lithuanian consumers. Reviewing the results of maintenance, VERT performed more than 6000 inspections of irregularities in the third case. I will also mention important projects run by VERT. Liberalization: A spreadsheet has been developed that makes it easier for the consumer to make an independent choice of supplier. More than 50 municipalities were visited to interact live with the population and answer their questions. Digitization is a priority for VERT. The update of the LRAIC model has made it possible to optimize electricity costs in the long term. “

According to R. Pocius, important years were in dealing with international issues: trade in electricity with third countries, synchronization of electricity networks with continental Europe, issues of exploitation of the GIPL connection, etc.

“What awaits VERT? The functions of VERT are expanding, the waste management sector will be regulated, and the implementation of the Law on Alternative Fuels is accelerating. The Clean Energy Package is also waiting, the offshore wind auctions are already on schedule, and barriers to the single market in the gas sector need to be reduced. I can only rejoice that VERT is heard in the Economic Committee, the best solutions are found during the discussions, ”says the chairman of VERT.

VERT under the Energy Act by 1 May each year submits an activity report to the President of the Republic of Lithuania, the Seimas of the Republic of Lithuania and the Government of the Republic of Lithuania.