Compliance is a process that ensures Tetas adheres to and implements the legal requirements of the European Union and the Republic of Lithuania, internal company policies, other legally binding documents, as well as best practices and sectoral standards.
Maintaining and managing compliance is especially important for Tetas because:
- We operate in the energy sector, which is critical to national security;
- Any compliance breach could lead to financial, reputational, operational, or environmental consequences for the company and the EPSO-G group of companies;
- We are responsible for infrastructure of strategic importance to national security;
- Compliance is a prerequisite for implementing our corporate strategy, achieving our goals, and maintaining a flawless professional reputation. Therefore, the company takes all necessary measures to ensure requirements are met in a manner that aligns with the values of both Tetas and the EPSO-G group.
Compliance Management System
The goal of our Compliance Management System is to prevent non-compliance incidents, identify potential issues, and promptly address them.
To ensure effective compliance management, Tetas follows these key principles:
- Responsibility Principle – Each employee is responsible for compliance in their daily processes and tasks;
- Risk-Based Approach – Compliance resources are allocated proportionally to the level of compliance risks identified;
- Sustainability Principle – Compliance contributes to the corporate governance principles defined in the EPSO-G group strategy, aiming for a sustainable future;
- Integrity Principle – Compliance is an integral part of daily operations, risk management, and interconnected with other company processes, based on internal policies and group values;
- Documentation and Traceability Principle – All key compliance actions must be properly recorded and stored to ensure traceability, control, and continuous improvement;
- Independence Principle – Compliance management is independent from other functions. It may be integrated with other roles only if no conflict of interest arises and effectiveness is preserved.
The "Three Lines" Compliance Model
Tetas manages compliance according to the Three Lines Model:
First Line identifies applicable requirements in daily activities, ensures compliance, manages risks, and resolves non-compliance cases;
Second Line maintains the compliance system, oversees the first line’s actions, performs monitoring, provides consultations, conducts training, and fosters a compliance culture. Depending on the company’s size and context, compliance experts may also perform first-line functions;
Third Line oversees the effectiveness of the first and second lines, provides recommendations for improving the compliance system.
For a more detailed overview of the compliance system, its principles, processes, and responsibilities, please refer to the EPSO-G Group Compliance Management Policy.