The FINANCIAL -- The Law on Electricity adopted on 07.02.2012 provides the legal framework for the development and enhancement of the competitiveness of the Lithuanian electricity market and ensures separation of the activities of the power distribution system operator from other power sector enterprises.

According to , The NASDAQ OMX Group, the profit margin of power sector enterprises will be regulated by the National Control Commission for Prices and Energy.

Article 68 of the Law lays down that the National Control Commission for Prices and Energy shall establish obligations to provide services at cost-oriented prices with regard to the reasonable return on investment. The Law provides that if the Commission, following the Rules of Electricity Market Research, investigates the market and establishes that the electricity producer has a great market influence, the Commission shall be entitled to impose the obligations specified in Article 68 of the Law.

The provisions concerning the normative profit set by the Commission for power sector enterprises have been repealed by this version of the Law. The Commission shall set the return on investment in relation to the criteria specified in the Law.

Pursuant to the new provisions, the Government shall approve the list of public interest services and the procedure of the provision thereof as well as appoint the administrator of VIAP funds. Previously, the Ministry of Energy of the Republic of Lithuania appointed the VIAP list and funds administrator.

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