Law No. XI-2023 “On energy resources markets”.

This Law establishes legal bases for the organization, administration, regulation, supervision and control of the market of energy resources of the Republic of Lithuania, as well as regulates the social relations of centralized trading in biofuels and petroleum products, natural gas trade and auxiliary energy price stabilization instruments. . When acquiring energy resources for energy generation and/or heating for energy companies, the method of acquiring energy resources for the production of electricity and/or heating shall be regulated by this Law and implementing legislation on the energy stock market must be given priority over other energy legislation resource acquisition. Other legislative documents regulating purchase of energy resources shall be applicable when it is economically more profitable to purchase energy resources for the production of electricity and/or heating according to such modalities, or laws impose mandatory requirements for energy companies on the source and/or method of purchasing energy resources. The main objectives of this Law include: (a) organization, management and regulation of energy stock exchange; (b) setting conditions for the formation of different types of biofuels market, to reduce the concentration of biofuel production and trade, and to ensure transparent pricing of biofuels; (c) setting conditions for the participants of the energy market to effectively market biofuels and petroleum product stocks - to create a centralized electronic trading system; and (d) setting guarantees for the differentiation of natural gas supply and trade - to create legal conditions for the effective marketing of natural gas. The state management and regulation of the energy market in terms of competence shall be performed by: (a) the Government of the Republic of Lithuania; (b) the Ministry of Energy of the Republic of Lithuania; and (c) State Control Commission for Prices and Energy. Energy Stock Exchange operations shall be subject to mandatory licensing. Heat suppliers, heat auction participants and joint heat and electricity producers shall provide data to the energy exchange operator directly on the bilateral agreements (counterparty, date of conclusion, type of biofuel and duration of the transaction) through the energy exchange data management system. Heat suppliers, participants in heat auctions and joint producers of heat and electricity using biofuels for electricity and/or heat production must give priority to the Energy Exchange when purchasing all biofuels required for the production of electricity and/or heat.