Energy, Energy Market, Lithuania

The new prices will take effect on January 1, 2021. 

The price for consumers buying electricity from the low voltage grid is set to increase by 4.5% to 11.393 euro cents per kilowatt-hour, not including VAT, VERT said.  

Ignitis said that the average price of electricity for many consumers will increase by 4.1%, meaning that the monthly electricity bill of a statistical household using about 117 kWh per month on average will rise by 64 cents.

The supplier said the price hike was mostly due to an increase of over 9% in the average electricity market price in 2021, as well as a rise of up to 8.5% in the distribution service price.

New electricity prices were published earlier than usual this year to give consumers time to compare the rates to those of other independent suppliers. 

Almost 100,000 households have until December 10 to choose their independent supplier.    

Consumers using between 1,000 and 5,000 kWh annually will have to do so starting in 2022, and all others, from 2023.  

Lithuania liberalized the market for electricity supply to household consumers earlier this year.