Energy, Energy Market, Good for Business, Latvia
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Thursday, 25.04.2024, 13:40
Latvenergo Group's unaudited profit at EUR 75.955 mln in 2018
Latvenergo's
EBITDA decreased 41% to EUR 321.6 mln in 2018.
Latvenergo
generated 5,076 gigawatt-hours (GWh) of electricity at its generation
facilities last year, while thermal energy generation amounted to 2,274 GWh.
The report says that Latvenergo
combined heat and power plants played a very important role in ensuring
electricity demand last year, which compensated for the shortage of hydropower
output.
The output by Daugava hydropower plants decreased 44% in
2018, compared to previous year, and reached 2,380 GWh.
In 2018, a total of 7 terawatt-hours (TWh) of electricity
was sold to retail customers in the Baltics, which is approximately the same
amount as in 2017. The electricity trade volume in Latvia was 4.4 TWh, 1.6 TWh
in Lithuania and 0.9 TWh in Estonia.
Latvenergo continuously
develops new business areas and services, and the latest Elektrum service is the sale of natural gas to Latvian households
from February 2019.
The total amount of Latvenergo
Group's investments reached EUR 220.6 mln in 2018. 82% of overall
investments was made in the modernization of the networks with a view to
ensuring high quality of network services and improving technical performance
and operational reliability. EUR 21.1 mln was invested in the reconstruction of
the hydropower units of Daugava hydropower plants. Investments in the large
transmission projects, Kurzeme Ring and the third Estonia-Latvia power
transmission network interconnection, continue as well.
In 2017, Latvenergo
Group's revenue amounted to EUR 925.627 mln, 0.6% less than in 2016, while
the group's profit rose 2.5 times to EUR 322.021 mln.
Latvenergo Group
is one of the leading energy suppliers in the Baltics operating in electricity
and thermal energy generation and trade, natural gas trade, electricity
distribution services and lease of transmission system assets.