The Governance Coordination Centre (GCC) conducts an evaluation of the strategies of state-owned enterprises (SOEs) each year. Using a special methodology, GCC evaluates the strategies of companies (referred to as strategic activity plans in the GCC methodology) on a scale of ten points.
For the strategic activity plans prepared for 2024, the highest scores were awarded to Energy Cells (10 points), Amber Grid (9.76 points), and EPSO-G (9.1 points). Other companies within the EPSO-G group also received high ratings: Baltpool (8.93 points), Litgrid (8.42 points), and Tetas (8.33 points).
The evaluation report of the strategic activity plan consists of a summary evaluation of plan quality on a 0-10 point scale, as well as separate evaluations of the quality of individual content parts (such as environmental analysis, financial forecasts, strategic objectives and tasks map, mission, vision, and strategic directions, in the case of EPSO-G, shareholder expectations are also evaluated). Additionally, conclusions and recommendations are provided to state-owned enterprises.
According to Ieva Kuodė, the planning and strategy leader of the EPSO-G group, to ensure the security and reliability of the energy system and to implement strategic projects such as synchronization with continental European networks and prepare for the integration of large-scale renewable energy resources, EPSO-G and group companies pay special attention to strategic activity planning.
“The rapid transformation of the energy sector prompts an annual review of the business strategy and adaptation to a dynamic environment. At the end of last year, at the order of the Ministry of Energy, EPSO-G, together with foreign consultants DNV, conducted and publicly presented the vision of Lithuanian energy until 2050. The Group aims, taking into account the results of the study of the transformation of the Lithuanian energy sector, to outline strategic opportunities and a business model in the context of the transformation and sustainability goals of the Lithuanian energy sector in its main business segments, and to identify new business directions. For this purpose, the Group is currently preparing a strategy until 2035 and strategic direction guidelines until 2050,” says I. Kuodė.
Every year, SCC also conducts an evaluation of strategic planning and implementation, which is presented along with the index of state-controlled companies.
