Spausdinti

LEG increased operational excellence and produced more electricity in hydroelectric power plant during the first 9 months in 2017

Spausdinti

17/11/2017

Lietuvos Energijos Gamyba (LEG) continuously focused on the implementation of its strategy during the third quarter of 2017. Despite the fact the production was decreasing in some of the power plants, LEG is moving towards its goal - to operate 15% more efficiently and devote 15% of time to new activities in 2020 - by working intensively and implementing the main strategic directions.

The Algirdas Brazauskas’ Hydroelectric Power Plant produced almost one quarter (23%) more electricity during the first 9 months of 2017 in comparison with 9 months of 2016 (318 GWh and 257 TWh). Water levels were extremely high in 2017 and it could beat the records of the entire six decades. The average water levels floated to Kaunas Reservoir via river Nemunas is around 300 m3/s during the first 9 months of 2017. Meanwhile, LEG managed to retain very similar production volumes in Kruonis Pumped Storage Hydroelectric Power Plant during the first 9 months in 2017 in comparison with the first 9 months in 2016 (respectively 404 GWh and 411 GWh).

Due to the changes in the market, Elektrėnai Complex produced less electricity during January–September 2017. The production level was 129 GWh in Elektrenai Complex which converts to 58% less production in comparison with January–September 2016.

“We are aiming to provide an excellent service to our clients so we do monitor and focus on the market changes or transmission system operator’s needs, we use our employees’ main competencies and experience in order to ensure an uninterrupted production of electricity and the ability to use our power stations immediately if the reserve service is needed. Emission monitoring tests were performed in all power plant units of Elektenai complex in September 2017. We are ready to provide high quality tertiary and strategic reserve service,” – says Eglė Čiužaitė, Chairwoman and CEO of LEG.

According to Eglė Čiužaitė, LEG continuously monitors the market and signals of various institutions on the possible development of electricity production capacities - projects for the construction of a wind park in the territory of Kruonis PSHP and the development of Kruonis PSHP by installing the fifth hydro unit are continued. While waiting for clarity regarding to the chosen model for synchronization with the Western networks and the need for such facility, LEG is getting ready to explore the existing infrastructure of the power station with the goal to reduce the time of preparation for the potential construction works to the minimum.

Development of new activities is another area where LEG employees target their ideas and efforts. An enterprise has been offering competitive services of operation and maintenance of power plants and boiler houses in the market. LEG invites small and large enterprises to buildings and territories of the Elektrėnai Complex that are no longer used in the core operations – these companies can find a great place for business development here. And there is a good start already – LEG managed to attract more than ten customers in the past few months. 

“I am very happy with LEG employees’ involvement and joint efforts in the creation of its future, - says E. Čiužaitė. – Taking advantage of practices of operational excellence finding their way in the Company, we seek to operate increasingly better, more efficiently and at a lower cost every day. Financial results of the Company for January-September 2017 show that we are on the right track”.

The Company’s sales revenue of the 9 months of 2017 are EUR 96.7 million and are 4 percent smaller than the revenue of the 9 months period of 2016 (EUR 100.9 million).

The Company’s profit of the 9 months period of 2017, excluding interest, taxes, depreciation and amortization (EBITDA) reaches EUR 38.4 million and is 21 percent bigger than the profit of 9 months period of 2016 (EUR 31.6 million). EBITDA margin increased from 31% to 39.3%.

The Company’s net profit of the 9 months period of 2017 reaches EUR 19.7 million and is 11 percent smaller than the net profit of 9 months period of 2016 (EUR 22.0 million).

“Our activities and aspiration to work openly did not go unnoticed. At the end of October, we received an acknowledgement from “Transparency International” Lithuanian branch for being among the best publicly accountable major companies of Lithuania. This inspires us to continue our good practices”, - says LEG CEO.