Eesti Energia has set up Lumen Balticum, a subsidiary in Lithuania tasked with the role of selling electricity on the open Lithuanian energy market. The company is fully owned by Eesti Energia.
The move follows on from the establishment by Eesti of E.Energy in Latvia in the spring of last year and continues the energy company’s policy of driving cooperation and integration of the energy assets and markets of the Baltic region with a view to improving conditions through collective strength.
The energy market in Lithuania has been liberalized since 2002 and is open to all power suppliers. It is an opportunity for Eesti Energia to deliver one of its strategic goals of developing new products, markets and connections, said Sandor Liive, Eesti Energia CEO.
Lumen Balticum will initially supply power to corporate customers, Eesti said in a statement.