International Internet Magazine. Baltic States news & analytics
Thursday, 28.05.2015, 22:58
Electricity and gas prices of Latvian households was the fifth lowest in the European Union in the second half of last year, reports LETA, according to Eurostat.
Keyword tags: Analytics, Energy, EU – Baltic States
On May 27th 2015, joint-stock gas supply company Latvijas Gaze has begun pumping gas into the Incukalns Underground Storage Facility in preparation for the next heating season, the company's spokesman Vinsents Makaris explained, adding that due to the warm winter, the company has started to pump gas into the facility about a month later than usual, informs LETA.
Estonian shale oil producer Viru Keemia Grupp (Viru Chemistry Group) earned in 2014 nearly 10 million euros in net profit, while in 2013, the profit was almost 20 million euros, LETA/Public Broadcasting reports.
KVV Liepajas metalurgs has paid about EUR 100,000 to the company's laid-off workers, KVV Liepajas metalurgs board member Igor Kovalenko told LETA.
The high electricity tariffs caused by the mandatory procurement component (MPC) have become a problem for all business owners, and for a lot of them production in Latvia is becoming unprofitable, this according to Janis Vilnitis, owner of the joint-stock paper producer Liepajas papirs, in an interview with "Rietumu radio", cites LETA.
Estonian renewable energy producer Nelja Energia AS announced that it successfully completed a EUR 50 million bond issue on May 22nd, informs LETA.
Last week, the average price of electricity in Latvia and Lithuania increased to EUR 40.87 per megawatt hour (Mwh), which is 13% more than in the previous week, according to Latvenergo's information on electricity prices on the energy exchange Nord Pool Spot, cites LETA.
On 22 May saw the conclusion of the month-long Review Conference of the Parties to the Treaty on Non-Proliferation of Nuclear Weapons (NPT). Thorough and meaningful discussions took place on all the three NPT pillars – disarmament, non-proliferation and the peaceful uses of nuclear energy, as well as on regional issues. Regrettably, the states were unable to reach a consensus on organizing a separate conference on the establishment of a nuclear-free zone in the Middle East, reports BC the Latvian MFA.
CJSC Belarusian Oil Company plans to acquire Woodison Terminal Ltd., one of the companies operating at the Freeport of Riga, according to the TV3 show "Neka Personiga", cites LETA.
The average price of electricity in Latvia could reduce 5-7% in 2016, this according to CEO of Latvenergo Aris Zigurs in an interview with the LNT show "900 sekundes" today, cites LETA/Nozare.lv.
The unaudited interim condensed consolidated financial statements of Latvenergo Group for the first 3 months of 2015 were published on 22 May. In the first quarter of 2015, Latvenergo Group income constituted 259.5 million euros, or 20% less compared to the first 3 months of 2014.
The priority of the European Union (EU), as part of its cooperation with the Eastern Partnership countries, will be energy and transport, this according to President of the European Council, Donald Tusk, during a press conference in Riga on May 22nd, reports LETA.
Estonian state-owned power grid company Elering announced that it signed a financing agreement with the European Commission, according to which the European Union finances the construction of the third Estonian-Latvian electricity connection with 112 million euros, informs LETA.
President of Lithuania Dalia Grybauskaite together with Finland’s former President Tarja Halonen unveiled sculpture “Suomis” in Vilnius. At the unveiling ceremony, the President underlined that this sculpture was a symbol of close friendship between Lithuania and Finland, reports BC presidential press service.
KVV Liepajas metalurgs at this time is laying off 15% of its workers, the company's representative Inese Ozolina told LETA.