Dear managers of energy companies,

The war that Russia started in Ukraine a year ago has had disastrous effects, first and foremost, on the people of Ukraine, who have had to flee their homes or forgo even the basics of a life with dignity: no electricity, no heating in winter, and no water supply, not to mention the buildings that have been destroyed and the lives that have been taken.

This war has also affected energy markets. Because of Russia’s actions, natural gas prices soared to unprecedented heights in 2022, and electricity prices on European exchanges rose dramatically. All of this led to hundreds of billions of dollars in additional profits at energy companies, the result not of investments or business strategies, but of higher prices because of the war.

Today, we submitted a proposal to Ignitis Group’s Annual General Meeting of Shareholders to allocate around 10% of last year’s additional profit as aid to recover and reconstruct energy infrastructure of Ukraine.

We urge you to follow suit and earmark part of your 2022 profits for Ukraine. We believe sharing profits with the country that is suffering the consequences of the war that has led to those profits is morally the right thing to do.

All together we can do more. If each of us contributes, we can significantly help this embattled country and speed up its recovery.

Ignitis Group CEO Darius Maikštėnas

Letter sent: