Faster electricity cabling would cost 0.5 billion euros and could affect business

Lithuania's Minister of Energy is pushing for accelerated installation of underground electricity cables, a move aimed at enhancing the resilience of the power grid against storm damage. The proposal involves laying 6,000 kilometers of new lines beneath the surface.

However, the head of the company overseeing the grid warns that this ambitious project could come with a significant price tag of 0.5 billion euros. Furthermore, he suggests that such substantial investments might lead to an increase in electricity prices and could negatively impact the competitiveness of Lithuanian businesses.

Discussions are underway regarding how to finance this extensive undertaking. One possibility being considered is that consumers would bear a portion of the costs through their electricity bills, while the state would cover the remaining expenses. This approach aims to distribute the financial burden, though the exact mechanisms and proportions are still under deliberation.

The initiative highlights a tension between the need for infrastructure modernization to ensure reliable energy supply and the economic implications for both consumers and businesses. The decision on how to proceed will likely involve balancing these competing priorities.