Energy, Energy Market, Good for Business, Latvia

During the first three months of this year energy producers in the Baltics and Nord Pool bidding area were affected by a number of circumstances. The electricity price dropped to an all-time low amid warmer weather conditions and the Covid-19 pandemic.

Unlike last year, conditions for power generation were favorable in Latvia in the three-month period, which resulted in the highest output in the Baltics. In the first quarter of 2019, Latvenergo generated 1,347 GWh of electric power. 

Electric power generation at the hydroelectric power plants on the River Daugava doubled from the first quarter of last year to 1,218 GWh as water inflow in the river increased to 979 cubic meters per second in the first quarter of this year from 467 cubic meters per second a year ago. 

Electric power generation at the Latvenergo  combined heat and power plants (CHP) fell 58% on year to 306 GWh as the plants' operations were being adapted to the market situation and demand for thermal power.

The percentage of renewable energy reached 80 of total energy generated by Latvenergo in the first three months of 2020, up from 45 percent in the first three months in 2019. 

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. Latvenergo is a state-owned company and the shareholder is the Economics Ministry.