On 4 June, Lithuania's National Control Commission for Prices and Energy (VKEKK) adopted a decision to fine LESTO, state-owned electricity company, which will have to pay EUR 300,000 for the violations detected in the act of scheduled inspection. The company is also ordered to correct the regulated cost statements for the period 2011-2013, LESTO reports.
© DELFI / Kiril Čachovskij

According to the Commission, during the period 2011-2013 LESTO assigned EUR 16.455 million cost more than it could be assigned for regulated electricity distribution activity and EUR 1.174 million cost more than it could be assigned for regulated public supply service.

LESTO does not agree with the decision of the Commission and has appealed to court for annulment of 19 December 2014 Commission's act of scheduled inspection.

LESTO also does not agree with the 4 June 2015 decision of the Commission and is considering a possibility to challenge it in Vilnius Regional Administrative Court

LESTO is Lithuanian electricity distribution network operator.

New trends in startup world: unicorns' aspiration is not key anymore

The question when the first unicorn with over 1 billion of US dollars in value will appear in the...

Shopping frenzy: biggest retail chains plans allocate millions of euros for new stores

Lithuania's five biggest retail chains – Maxima , Lidl , Rimi, Iki and Norfa – have...

Construction launched on EUR 15 mln hotel in Kaunas

Construction is being launched on a 15-million-euro Moxy hotel, part of the Marriott Group , in...

Revolut moves operation launch date in Lithuania (1)

The United Kingdom's fintech startup Revolut has moved the operation launch date of its specialized...

“Shazam” co-founder before his visit in Lithuania: it will be new experience



You need to fail and learn many lessons before you finally reach your success. This can be proved by...