What EPSO-G does

EPSO-G is a Lithuanian state-owned energy transmission group operating as a holding company for six direct subsidiaries that collectively manage Lithuania's electricity and gas transmission infrastructure, battery storage, and biomass trading. Core operating subsidiaries include Litgrid (electricity transmission system operator managing approximately 7,000 km of overhead lines, 300+ km of cable lines, and 240+ transformer substations across 9 interstate connections), Amber Grid (natural gas transmission operator managing a 2,288 km high-pressure network interconnected with the Klaipėda LNG terminal and serving consumers in Lithuania, Latvia, Estonia, Finland, and Poland), Energy cells (operator of four 50 MW/50 MWh battery parks totaling 200 MW, one of Europe's largest battery energy storage systems), Baltpool (biomass exchange facilitating roughly €180.7 million in annual transactions), Tetas (energy infrastructure construction and maintenance), and EPSO-G Invest (strategic investment vehicle).

Revenue is generated through regulated transmission tariffs approved by Lithuania's National Energy Regulatory Council (VERT) for electricity, gas, and storage services, supplemented by a marketplace commission model at Baltpool and strategic investment returns through EPSO-G Invest's defense industry stake in Rheinmetall Defence Lietuva (48% ownership in a 155mm artillery ammunition factory joint venture near Baisogala, financed by a €73 million Swedbank loan). Following the successful synchronization of Baltic electricity grids with Continental European networks in February 2025, EPSO-G's infrastructure now enables energy independence from BRELL countries (Russia/Belarus), with the Energy cells storage system shifting into balancing services.

Financially, EPSO-G reported Q1 2026 revenue of €195.1 million (+43.3% YoY) and 2025 adjusted EBITDA of €76.7 million (+5% YoY) on stable adjusted net profit of €42 million. 2025 infrastructure investments totaled €211.1 million, and the group holds a Moody's Baa1 investment-grade credit rating with stable outlook affirmed in June 2026, alongside €160 million in new Swedbank credit facilities signed the same month. The company is fully owned by the Ministry of Energy of the Republic of Lithuania.

Name

EPSO-G

Legal name

UAB EPSO-G

Website

https://epsog.lt

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

EPSO-G is a Lithuanian state-owned energy transmission group operating electricity and gas transmission networks, 200 MW of battery storage, and a biomass exchange through six subsidiaries. Following 2025 Baltic grid synchronization with Continental Europe, it serves Lithuanian, Baltic, and Nordic energy consumers via regulated transmission services and has expanded into defense industry via a Rheinmetall joint venture.

Ownership category

akta.pro rank

Product category

Electricity Transmission Services

NAICS

Electric Power Generation, Transmission and Distribution (2211), Electric Power Transmission, Control, and Distribution (22112), Natural Gas Distribution (221210)

SIC

Electric Services (4911), Natural Gas Transmission (4922), Electric, Gas & Sanitary Services (4900)

akta.pro primary industry

Resource Adequacy, Capacity Expansion & Integrated Grid Planning (IRP linkages) (EUADAGAI)

akta.pro secondary industries

Utility-Scale Generator PPAs (Project Offtake) (EUAGADAB), Hybrid PPAs (Renewables + Storage) & Firm Renewable Products (EUAGADAI), PPA Origination, Structuring & Offtake Contracting (Physical/Financial, Sleeves) (EUAMAMAD)

Keywords

• Electricity transmission services
• Natural gas transmission
• Energy storage systems
• Biofuel exchange platform
• Grid infrastructure management

Headquarters

HQ city

Vilnius

HQ country

Lithuania

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Personnel, Operations, Technology or R&D, Supply Chain

Revenue model

1. Electricity Transmission Services: Litgrid operates as Lithuania's electricity transmission system operator, providing regulated transmission services and maintaining stable electricity system operation through approximately 7,000 km of transmission infrastructure.
2. Natural Gas Transmission Services: Amber Grid operates Lithuania's 2,288-kilometre high-pressure gas transmission network, transporting natural gas to Lithuanian, Latvian, Estonian, Finnish, and Polish consumers. Revenue comes from regulated transmission tariffs.
3. Energy Storage Services: Energy cells provides isolated operation reserve services and battery energy storage systems for grid stability, operating 200 MW of storage capacity.
4. Biofuel Trading: Baltpool operates as an energy resource exchange where heating, industrial, and independent producers purchase biofuel, with transactions valued at approximately 180.7 million euros annually.
5. Defense Industry Investment: EPSO-G Invest participates in defense industry through 48% ownership in Rheinmetall Defence Lietuva, investing in 155mm artillery ammunition factory project near Baisogala, contributing to national security objectives.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

EPSO-G is a state-owned Lithuanian energy group operating electricity transmission (via Litgrid), natural gas transmission (via Amber Grid), battery energy storage (via Energy cells), biofuel exchange (via Baltpool), energy infrastructure construction (via Tetas), and strategic investments (via EPSO-G Invest). The group provides regulated energy transmission, storage, and exchange services critical to Lithuania's energy security and independence. Revenue is generated through regulated transmission tariffs approved by Lithuania's National Energy Regulatory Council (VERT) and commissions from exchange trading.

Product overview

EPSO-G is a Lithuanian state-owned energy group consisting of a holding company and six direct subsidiaries operating across the energy value chain. The portfolio includes Litgrid (electricity transmission system operator managing approximately 7,000 km of lines and 240+ substations), Amber Grid (natural gas transmission operator with 2,288 km high-pressure network), Baltpool (energy resources exchange for biofuel trading in the Baltic region and Poland), Energy cells (energy storage system operator with 200 MW/200 MWh battery capacity across four locations), Tetas (energy infrastructure development and construction), and EPSO-G Invest (investment vehicle for strategic projects including defense industry). The group also provides a public digital tool called the Flexibility Services Calculator for evaluating flexibility technology investments. The group is majority-owned by the Ministry of Energy of the Republic of Lithuania.

Differentiator

Problem solved

Functional benefit

Products and services

• Electricity Transmission Services

Quantifiable outcome

• Lithuania achieved 70 days of complete domestic electricity production in 2025, with renewable energy covering about half of national demand
• +2 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability1 record

Feature4 records

Partnerships

Two partnerships are on record, tiered minor and core.

• European Energy Exchange AGminorStrategic or Co-development Partner · 3 September 2025EPSO-G completed GET Baltic share transfer to European Energy Exchange AG. 66% of GET Baltic shares sold for €6.5 million in 2023, remaining 34% sold for €3.8 million in 2025.
• RheinmetallcoreStrategic or Co-development Partner · 4 November 2024EPSO-G Invest (48% ownership) and Rheinmetall (51%) joint venture for 155mm artillery ammunition factory near Baisogala. Planned investment of approximately €260-300 million. Factory expected to start operations end of 2026 with production capacity of tens of thousands of shells annually, creating at least 150 jobs.

Scale indicators18 records

Recent moves6 records

Expansion highlights5 records

Regional players

• Gasgrid Finland: Finnish gas transmission system operator. Comparable to Amber Grid as a Nordic-Baltic gas TSO; receives gas via the Balticconnector pipeline from Estonia and serves overlapping customers with EPSO-G's gas infrastructure as part of the integrated regional gas network.

Direct peers

• Elering: Estonian electricity and gas transmission system operator. Directly comparable as fellow Baltic state-owned TSO that participated alongside Litgrid in the February 2025 Continental European grid synchronization; operates the EstLink connections to Finland and cross-border electricity infrastructure.
• Conexus Baltic Grid: Latvian natural gas transmission and storage system operator. Direct peer to EPSO-G's Amber Grid within the Baltic gas corridor; together they form the integrated Baltic-Finnish-Polish gas transmission network serving regional supply diversification away from Russian gas.
• AST (Augstsprieguma tīkls): Latvian electricity transmission system operator. Direct Baltic TSO peer that jointly synchronized with Continental European grids in February 2025 alongside EPSO-G's Litgrid; comparable in scale, regulated monopoly status, and integration role in the Baltic energy system.
• PSE (Polskie Sieci Elektroenergetyczne): Polish electricity transmission system operator. Comparable European TSO connected to Lithuania via the LitPol Link and indirectly via the GIPL gas pipeline; both operate in the post-synchronization Continental European system and manage cross-border interconnection infrastructure.

Broad incumbents

• 50Hertz Transmission: German transmission system operator controlling the northeastern German grid. Comparable as a Continental European TSO peer operating under the same post-synchronization framework as EPSO-G's Litgrid, with significant offshore wind integration and cross-border balancing responsibilities.
• Ignitis Group: Lithuanian state-owned integrated energy group covering generation, distribution, and retail. Comparable as the other major Lithuanian state energy company with overlap in Lithuanian energy infrastructure; shares leadership talent with EPSO-G (multiple EPSO-G executives previously worked at Ignitis/ESO).
• Elia Group: Belgian/German transmission system operator. Comparable European TSO peer with extensive cross-border interconnection, balancing market, and offshore grid expertise; operates at scale comparable to EPSO-G's continental ambitions post-synchronization.
• Svenska Kraftnät: Swedish national electricity transmission system operator. Comparable Nordic TSO peer operating in the same synchronous grid framework as the Baltics; manages cross-border interconnections and is a key balancing partner for Baltic and Continental European operations.

Emerging players

• Fluence Energy: Global battery energy storage system provider and integrator. Comparable to EPSO-G's Energy cells subsidiary as a battery storage operator, though Fluence is a commercial technology provider/systems integrator while Energy cells operates storage assets for regulated grid services; potential supplier or partner to EPSO-G's storage scaling plans.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries9 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about EPSO-G