On 8 December 2021, a meeting was held between the representatives of the Embassy of Spain in Lithuania and the National Energy Regulatory Council (NERC) to discuss the latest developments in the Lithuanian gas and electricity markets.
As one of the greenest governments in the EU, Spain has very ambitious plans for the renewable energy sector. To facilitate this, the Embassy of Spain is seeking to better understand the current developments in renewable energy in Lithuania. It hopes to identify opportunities for Spanish companies in this field and ultimately strengthen the economic ties between our countries.
The virtual visit therefore aimed to provide an overview of the main regulatory principles and recent developments in the Lithuanian gas and electricity markets, with a particular focus on renewable energy, in order to give the Spanish representatives a better understanding of how to identify commercial and investment opportunities in Lithuania.
During the meeting, NERC representatives gave an outline of NERC's activities and competences, as well as an overview of the composition of the Lithuanian gas and electricity markets, including its stakeholders, generation structures and the balance of electricity and gas sources, the strategic projects in the Lithuanian gas and electricity markets. They reported on the process of liberalisation of the retail electricity market in Lithuania and the current developments in the renewable energy market, where the Spanish delegates expressed particular interest in the RES auctions.
This online meeting was an important opportunity to discuss bilateral cooperation, which both the representatives of the Embassy of Spain and NERC identified as beneficial and something that should be further developed. Both parties intend to expand our economic relations in the energy markets, with future exchanges between energy regulators, diplomatic representatives and other relevant market players.