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Mandatory procurement component could be scrapped in three years in Latvia

BC, Riga, 01.08.2018.Print version
The mandatory procurement component in electricity rates could be scrapped in three years in Latvia, informs LETA.

According to the Economics Minister Arvils Aseradens (Unity), the proposal was supported at a meeting of a task force that had been analyzing the prospects of liquidating the mandatory procurement component for the last several months.

In order to liquidate the mandatory procurement component, the Economics Ministry proposes renewing subsidized electricity tax of 15 percent in 2019 and introducing new requirements on biogas plants. The Economics Ministry is also proposing to introduce the so-called "green certificate", which electricity producers will sell to electricity traders.

As reported, the government approved setting up the task force for liquidation of the mandatory procurement component on April 17 of this year. The task force is headed by Aseradens, while the Economics Ministry's State Secretary Eriks Eglitis is the task force's deputy head.

The task force includes experts from several ministries and representatives from Latvian Employers' Confederation, Latvian Chamber of Commerce and Industry, Foreign Investors' Council and other organizations. It was tasked with preparing an action plan for the liquidation of mandatory procurement component by August 1.


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