"In international and European practice, there is a model where shares in energy companies are controlled by the Energy Ministry or the Finance and Treasury Ministry, like in Poland," Evelina Butkutė Lazdauskienė told BNS.
"The shares have to be transferred from the Ministry of Economy to the Finance Ministry, because when the shares are under the Economy Ministry's control, a conflict of interest related to business promotion and EU aid can arise, for example, when the minister allocates aid to the companies he controls. Therefore, we must separate the formation of the energy group's policies and strategies," she said.
Finance Minister Rimantas Šadžius did not comment on the proposal put forward by the prime minister's office.
It has been proposed that shares in VAE be transferred to the Finance Ministry, although Butkevičius has said recently that control of the company, which is to implement the country's new nuclear power plant project, will be given to the Energy Ministry. It is said that the latest proposal is aimed at making the management of the energy group more efficient and decision-making quicker, and at better controlling its operations.
The Finance Ministry is to take over the 100-percent stake, or 4.067 billion shares, in VAE from the Economy Ministry by February 15, according to a draft government resolution drawn up by the government's office.
Last September, the Minsitry of Economy took over 100 percent of shares in VAE from the Energy Ministry, but the electricity transmission grid operator Litgrid remained under the latter ministry's control. The government thus separated the transmission system operator from VAE in line with the EU's third energy package.
VAE was established to carry out Lithuania's planned new nuclear power plant project.
