“Elektrum Lietuva”: residents will receive lower bills for electricity in May

In May, residents will receive lower bills for electricity consumed in April. An earlier-than-usual review of the state-regulated portion will reduce the price by about 0.5 cents per kilowatt hour. The monthly electricity bill will be 1-1.5 euros lower for a home that consumes electricity on average.

“The components of the state-regulated part are the part of the total electricity bill that is usually reviewed twice a year. This time, the electricity distribution operator (ESO) component decreased. The other parts – the service tariff that meets the state’s interests and the additional distribution tariff – remain unchanged,” says Mantas Kavaliauskas, head of product development at Elektrum Lietuva.

According to the expert, users will receive smaller bills in the coming days. Electricity suppliers usually provide them by the 10th day of the month, when they receive data on residents’ electricity consumption for the previous month from ESO.

Reminds what constitutes the final price of electricity

Speaking about the components of the electricity price, M. Kavaliauskas reminds that it consists of two parts – the price paid to an independent supplier and the part regulated by the state. If at least one of the parts changes, the total amount due also changes.

“The price paid to an independent supplier for the supplied electricity may depend on which plan the consumer has chosen – exchange or fixed prices. By opting for a fixed price plan, consumers are more resilient to external factors, since price changes are not determined by the revision of state ingredients, as was the case this month. In the meantime, residents who have chosen the exchange plan and want to effectively manage their electricity costs must follow the dynamics of electricity prices and, taking it into account, plan their energy consumption,” says the head of product development at Elektrum Lietuva.

According to M. Kavaliauskas, the second part of the bill – the components of the state-regulated part – mainly consists of the forwarding fee. It also includes the distribution fee and the service component of public interest.

“These prices are approved by the State Energy Regulatory Council and account for about 40 percent of shared electricity bills. Regardless of the chosen electricity supplier, the states are regulated the ingredients are the same for all users, and due to the adopted recalculation procedure, they now usually change twice a year,” says M. Kavaliauskas.

He adds that residents can also find discounts or other applicable charges, such as a subscription fee, if the supplier has introduced one, on the electricity bills they receive.

About the company:

“Elektrum Lietuva” is a subsidiary company of Latvenergo (Latvia), the largest green electricity producer in the Baltic States, providing various energy solutions to household and business customers in Lithuania. More than 70 percent Electricity produced by “Latvenergo” comes from renewable sources. The company “Elektrum Lietuva” currently supplies electricity to more than 12 thousand companies, more than 211 thousand chose the company as their electricity supplier. households, the company supplies gas to almost 800 companies, has installed over 2,000 solar power plants and six solar parks (29.6 MW). New solar and wind parks with a total capacity of over 300 MW are under development.