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“IRL Polska” commences power trading in Poland

IRL Polska, a unit of WSE-listed “INTER RAO Lietuva”, has commenced electricity trading in Poland. On Thursday, 22 May 2014, the company executed its first transaction on the power exchange TGE.

“By executing our first trade, we’ve become an active participant in Poland’s power market. This is a significant step in the development of both IRL Polska and the entire INTER RAO Lietuva Group. In the near term, we will be focusing on the day-ahead market, and forward instruments,”

— says Vidas Čebatariūnas, Member of the Board, IRL Polska.

Upon the launch of the new connections Litpol 1 and 2, IRL Polska is planning to provide electricity import and export services during the average and long periods. In a long run, the company is going to expand the range of services and start supplying electricity to the retail consumers.

IRL Polska Sp. z o.o. is a subsidiary of INTER RAO Lietuva in Poland. The company was established in October 2012 in purpose to implement the company group’s aim to expand its activities in the region. In November 2013 the authorized capital of IRL Polska Sp. z o.o. increased from PLN 2 to 10 million. In January 2014 the company was granted the license for electricity trading in Poland.