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Wednesday 17.01.2018 | Name days: Tenis, Dravis
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Agreement reached with EC over MPC discount for energy-heavy manufacturers

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUAfter nearly a two-year long coordination process, Economy Ministry has received approval from the European Commission in relation to provision of state support to energy-heavy manufacturing companies that is intended to reduce the costs of those companies for electricity in relation to mandatory procurement component’s proportion in the end price of electricity, as BNN was informed by the ministry.

«Economy Ministry developed the support mechanism in order to increase the competitiveness  of Latvia’s energy-heavy manufacturing companies, create a signal for reduction of energy costs and increase the number of well-paid jobs, as well as contribute to growth of national economy and increase the proportion of processing industry in GDP,» says Economy Minister Arvils Aseradens.

At the 30 May meeting of the Cabinet of Ministers, it is planned to approve amendments to Cab. Req. of 14 June 2015 for the order in accordance within with energy-heavy processing companies receive the right for reduced MPC in accordance with the agreement reached with EC.

The ministry notes that this means in the next month after the publication of amendments in the Latvian Herald, energy-heavy companies will be able to receive the right for an 85% reduced payment for electricity MPC for renewable energy resources that will increase companies’ competitiveness in the EU or in export markets in which electricity costs can be 2-3 times lower than Latvia.

«To acquire the rights for reduced MPC, businessmen will have to submit an application to Economy Ministry. If the business and the application with all relevant documents fit specific requirements, Economy Ministry will make its decision for the extent at which MPC will be reduced. This decision with a written invoice for the stated amount will have to be submitted by the business to the public trader – Enerģijas publiskais tirgotājs, which will cover the amount within one month after receiving the invoice,» the ministry explains.

Ref: 224.109.109.5289


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