2021–2024 Strategic Plan has been approved - Seite 2

By the end of 2023, we aim to install smart meters for all business customers and households consuming more than 1,000 kWh of electricity per year. It is estimated that by 2024 there will be 1.2–1.3 million smart meters deployed. Investments in Network segment will be directed towards replacing overhead electricity distribution lines with underground cables, facilitating grid connections and empowering prosumers. Investments in service quality and network efficiency will boost the network resilience, resulting in an expected decline of the SAIFI indicator in 2024 by 3–13%, compared to 2020.

The remaining up to 5% share of investments will be directed towards the segments of Flexible generation and Customers & solutions. Flexible generation segment will aim to maintain the current installed capacity of 1,1 GW by 2024 and remain the leader in the ancillary services market in Lithuania as well as contribute towards the synchronisation with the electricity network system of Continental Europe.

Customers & solutions segment aims to develop energy supply services in Polish and Finnish markets, increase innovative energy product sales, increase annual retail sales volumes of electricity as well as utilise synergies with the Green generation segment. The compound annual growth rate (CAGR) of electricity and gas retail sales volumes is estimated to reach 2.6% by 2024. 

Commitment to sustainability

Ignitis Group also includes the aspects of environmental, social responsibility and corporate governance principles in the business goals provided in the Strategic Plan. Set goals and target indicators include a broad spectrum of topics and actions – from one’s with which the Group aims to contribute to reducing the climate change to one’s increasing the sustainability of supply chain, ensuring employee health and safety, increasing engagement and diversity.

By working towards these objectives the Group aims to get closer to the companies leading in sustainability globally, therefore, it will compare itself according to the assessment results measured by the leading international rating agencies Sustainalytics and MSCI, which evaluate ESG-related risks and their management. At the same time, Ignitis Group is working to remain the leading example in the region and a leader in Good Corporate Governance Index compiled by the Governance Coordination Centre.