Energy

(Archive)

Reform of the energy sector is a critical building block for northern Europe's economic growth. Under NEI, the U.S. Government has been supporting the development and implementation of a Baltic regional energy investment strategy and a common regional electricity market. These efforts promote several key goals: restructuring the power sector, developing an effective price and regulatory framework, and privatizing the energy sector in order to attract strategic investment, especially including U.S. investment. Energy market reform and regional market integration are particularly urgent in the Baltic region because of the Lithuanian Government's commitment to close down for safety reasons Unit #1 (similar to the Chernobyl Plant design) of its Ignalina Nuclear Power Plant prior to 2005. The U.S. is working closely with the international donor community and international financial institutions to support this decision and to help the region -- and Lithuania in particular -- develop sustainable, economic, and safe energy alternatives.