Lithuanian Ignitis Group disburses EUR 12M to support Ukraine’s energy sector

Ignitis Group international energy company decided to allocate 10%, or EUR 12 million, of surplus profits to support the energy sector of Ukraine.

"We have the first case, it's a Lithuanian company that decided to allocate 10% of extra profits to support Ukraine's energy sector," Energy Minister of Ukraine German Galushchenko stated during a press conference, the Ministry of Energy posted on Telegram.

According to him, this company was the first to respond to the call of the Ministry of Energy to share the surplus profits that energy companies received as a result of the war in Ukraine launched by Russia which led to significant price hikes in the energy markets and, therefore, unplanned incomes of their players.

As reported, Ignitis Group is a state-owned energy holding located in Vilnius, Lithuania. Its subsidiaries are engaged in electricity and heat production and distribution, natural gas trade and distribution, as well as ancillary services.