Lithuania did not support the introduction of a price ceiling for electricity in the European Union

BRUSSELS, September 9 — PRIME. Lithuania supports the introduction of a cap on gas prices from Russia, but opposes caps on electricity prices, as this would harm the country’s domestic market, Energy Minister Dainius Kreivis said.

“Lithuania supports the proposal of the head (of the European Commission) to set a ceiling on gas prices. The ceiling on gas prices should be financed at the EU level. The ceiling on international generators is an absolute red line for us, because it will destroy the electricity market. We are included in them (Russian – ed.) market… We assume that this proposal will harm our domestic market, destroy the field, because different companies in different countries will receive different subsidies.We cannot waste time on measures to set a ceiling or measures that will not work, we must act quickly and now, because our citizens and businesses cannot wait,” Kreyvis said ahead of a meeting of EU energy ministers.

The head of the European Commission, Ursula von der Leyen, has previously stated the need to introduce a price ceiling for Russian gas. At the end of August, she also announced that the EC is working on operational and longer-term measures to “improve the situation” in the face of rising electricity prices in the EU, which mainly depend on the cost of “blue fuel”.

Deputy Prime Minister of the Russian Federation Alexander Novak said that the idea of ​​limiting oil prices is completely absurd, Russia will not supply oil and oil products to those countries that support it. He added that the introduction of restrictions on Russian oil prices will destroy the market, and other producers also do not respond positively to such an initiative.

In 2018, the Baltic States, Poland and the European Commission signed a political agreement in Brussels to synchronize the electricity networks of the three Baltic countries with those of continental Europe. It is expected that by 2025 the Baltic countries should finally leave the BRELL energy ring (Belarus, Russia, Estonia, Latvia, Lithuania) and connect to the energy system of continental Europe, which will allow them to achieve “energy independence from Russia.”