Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

Polish, Lithuanian grids analyse land route for new power link

Published 13/11/2023, 10:40
Updated 13/11/2023, 10:47
© Reuters. FILE PHOTO: Electric poles are pictured in front of the PGNiG Termika Zeran thermal power station after sunset in Warsaw, Poland June 19, 2019. REUTERS/Kacper Pempel/File Photo

WARSAW (Reuters) - Polish and Lithuanian network operators Polskie Sieci Elektroenergetyczne (PSE) and Litgrid are considering a land route for a second power line between the countries to cut the cost and time needed to build a new cable, PSE said on Monday.

Three decades after splitting from the former Soviet Union and 17 years since joining the European Union, Estonia, Latvia and Lithuania still depend on Russia to ensure stable power supplies.

A project to build an underwater power link between Poland and Lithuania faces a significant delay as costs have exceeded initial projections. The link, initially set to be completed in 2025, is expected to be built in 2027-2028.

PSE said on Monday one option was to build a land cable, rather than an underwater link.

"According to a preliminary assessment, choosing this variant may allow for a reduction of the project budget and its faster implementation," it said in a statement.

The land cable could in part use the corridor of the planned Rail Baltica railway route between Poland and Lithuania, PSE said, adding options were being considered. The decision on which will be chosen will be made in the first half of 2024.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.