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LATEST UPDATE IN LATVIA

Latvia's electricity market opened, allowing households and small businesses (under 50 employees and €7 million revenue) to access universal service at an economically justified price. Those not qualifying must buy from traders at contract prices. Starting January 1, 2009, JSC Latvenergo will set tariffs for captive customers, subject to Commission review. By September 2009, 8% of free market customers purchased from independent traders. New 2009 regulations have introduced fixed pricing for biomass and capacity payments, while simplifying switching processes for consumers.

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LATEST UPDATE IN LATVIA

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  1. LATEST UPDATE IN LATVIA

  2. Electricity Market Opening • All households and non household consumers with less than 50 employees and yearly turnover less than 7 million LVL have the rights to use the universal service of electricity; • Universal service – ability to be supplied by economically justified price; • The consumers which do not qualifies to get universal service are obliged to buy electricity from traders for contract price;

  3. Electricity Market Opening The Commission granted rights to JSC Latvenergo from January 1, 2009 to set the tariffs for the captive customers by the company itself: • Commission within 21 days asses tariffs conformity with the calculation methodology and justification; • if the Commission does not reject tariffs proposal, it enter into force on the date indicated but the company; • if the Commission rejects tariff proposal tariffs do not enter in the force.

  4. Electricity Market Opening • 32% of total electricity is traded forcontractprice (non-regulated); • Since July 1, 2008 130 customers switched the supplier, 10 of them twice; • On September 1, 2009 8% from free market customers purchase electricity from independent traders.

  5. New legislation On February 2009 new Regulations on RES-E were accepted • Price is fixed for period of 10 years and reduced after according to formula • As reference to set price for electricity from biomass is used natural gas price • Prices are differentiated by: installed capacity type of fuel

  6. New legislation • On February 2009 new Regulations on CHP were accepted • Introduced provision how to get qualified for capacity payment • On July 2009 new regulations on electricity trade were accepted Reduced time of prior notice of customer’s switching from 3 to 2 months Adjusted balancing provisions

  7. THANK YOU FOR • ATTENTION ! • WWW.SPRK.GOV.LV

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