JSC “EPSO-G”, Lithuanian energy Group Company and CEEP member, recently shared some details about its five-year strategy. It comprises four key directions of the activities of the Group – sustainable growth and the long-term benefit for shareholders; the development of regional activity and the implementation of strategic projects; effective operations; and the formation of a creative and progressive organisation. The strategy also includes the Group’s financial targets and goals. The Group’s average return on equity in the next coming five years is expected to reach 6.4%, with EBITDA to make up at least EUR 70 million at the end of the period. The strategy identifies EPSO-G group’s strategic projects. The key objective in the electricity sector is to prepare for synchronisation of the Baltic system with continental Europe network. The preparatory works of this project are outlined in the strategy and the transmission system operator for electricity, LITGRID SC, is responsible of its implementation. The objectives in gas sector are to efficiently utilize the country’s well-developed gas infrastructure and take advantage of the LNG terminal in cooperation with other Baltic countries. Hence, EPSO-G actively participates in developing the regional gas market and expand the operations of the natural gas exchange operator, GET Baltic, for a more enhanced regional integration as from 2020. Furthermore, the project of the Gas Interconnection Poland–Lithuania (GIPL), done in collaboration with Polish partners, should be completed by the end of 2021. Once the project is completed by the implementing company, Amber Grid SC, the Baltic countries and, likely, Finland will become part of the EU single gas market. The energy exchange operator, BALTPOOL, is responsible [...]
The PSE strategy for 2017-2019 – innovation with a view to future generations and respect for all stakeholders, covers the following issues: Safety for future generations Sustainable development Stable system operation Money spent in a better way PSE resources. This constitutes the main objectives and directions of activities indicated in the new Strategy of Polskie Sieci Elektroenergetyczne for the years 2017-2019, which was adopted by the Supervisory Board on 3rd of March 2017. While fulfilling these objectives, PSE is driven by social responsibility and environmental care principles. The Company’s vision and mission have been built upon three values: dependability, reliability and responsibility. The main duty of PSE is to take care for the security of the National Power System, including in particular the security of electricity supplies to end users. The activity of the transmission system operator must take into account changes faced by power markets, particularly technological and regulatory ones. An inevitable change of the energy mix, consisting in increasing the share of local generation of electricity and renewable energy sources, has to be taken into account in the activity of the transmission system operator. Regulations, including in particular the legislation of the European Union, form the second area. The year 2017 will mark the completion of work on the majority of EU network codes and the beginning of the European Parliament’s work on an exceptionally broad-ranged and ambitious package “Clean Energy for All Europeans.” These documents attempt to implement a change in paradigm concerning power markets, which the Strategy responds to – underlines Eryk Kłossowski, Chairman of the Board of PSE. Strategic objectives for the transmission system [...]
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