The Lithuanian Energy Regulatory Council (VERT) announced on Thursday that the company ‘Birštono elektra’ would need to repay 16.7 thousand euros to the state budget following a planned audit of its regulated activities. The audit revealed that a portion of the compensations received in early 2023 for reducing electricity prices was unwarranted. From January to April 2023, it was determined that the final price of electricity, due to lower purchasing costs, did not meet the government-mandated minimum threshold that would qualify the company for such compensation.

According to VERT's findings, ‘Birštono elektra’ had received over 122 thousand euros in compensation from the state budget, while the allowable amount calculated by VERT was slightly over 105 thousand euros. The authority highlighted a discrepancy of 16.7 thousand euros which was deemed as incorrectly obtained funding. This situation underscores the importance of regulatory oversight in ensuring that public funds are used appropriately and that companies do not benefit from subsidies beyond their deserved entitlement.

The company has been mandated to return this amount to the state budget within a timeframe of ten calendar days. The case brings to light concerns regarding the management of public compensations and could prompt other companies in similar sectors to reassess their compliance with governmental guidelines to avoid potential financial liabilities in the future.