Analytics, Energy, Latvia, Society

The company’s representatives said households have had the opportunity to choose from various offers provided by power suppliers over the past two years since the Latvian electricity market’s opening to free competition. At this point, the market has stabilized already and the prices offered by various suppliers differ insignificantly, in the range of 0.5-2 percent. As they compare analogous product and see that the price difference is negligible, clients choose those suppliers that offer more and better services.

“On the Latvian electricity market, suppliers mostly offer two options – either the product alone without added value or the product with added value or service. Of course, the price matters to the clients, but since the bills households have to pay for similar products differ only minimally, the clients are taking a broader approach – what else will I get for my money? It means that service is what ensures customer loyalty in the run, the supplier’s ability to predict their needs and provide the service even before the clients have demanded it,” said Latvenergo commercial director Uldis Bariss.

According to the company’s information, 92,600 clients have installed Elektrum’s mobile app, displaying power exchange data, affecting the electricity bills for those consumers who buy power for the exchange price. Meanwhile, 454,000 customers use self-service opportunities provided by the company’s Elektrum.lv website.

Latvenergo is a pan-Baltic energy group, generating and selling electric and thermal power, as well as providing power distribution services and the lease of transmission system assets.