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Tuesday 20.03.2018 | Name days: Made, Irbe

Electricity price for households expected to experience 16%-43% increase

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUFollowing the liberalization of Latvia’s electricity market on January 1st, 2015, electricity prices for households may grow by 16% to 43%, depending on electricity consumption, according to Swedbank Private Finances Institute expert Evija Kropa.

«With the opening of the market, some households should expect an increase on electricity costs,» – said Kropa.

This increase will be felt most notably by households that consume up to 100 kWh per month and those that are not families with multiple children or poor.

«Households that consume 400 kWh every month and do not wish to procure electricity from with other services will likely experience an increase of at least 16%,» – said the expert.

Households with an average consumption of electricity up to 100 kWh may expect an increase of 43%.

Kropa says that residents should take into account all costs before choosing a supplier of electricity. These include the total price, subscription fee, contract fee, penalties and other potential costs.

The expert also advises assessing how economically sound I would be to use a package of services (television, internet and phone).

The average increase of prices for households after January 1st, 2015 may be 15% – 30%, as previously predicted by Economy Ministry’s State Secretary Jurij Spiridonov.

It was previously reported that four traders had expressed readiness to sell electricity at the beginning of the year. Now there are six. Latvenergo with its Elektrum product line, Baltkom and Win Baltic all have already introduced their respective offers. Other traders plan to reveal their offers before the end of 2014.

On September 18th, the Saeima approved amendments to the Electricity Market Law. These amendments provide a compensation mechanism for poor households and families with multiple children. Next year, poor families will be provided with a tariff of EUR 0.1164 per 100 kWh per month. Families with multiple children will be provided with 300 kWh at the current Start tariff. For consuming more than 100 or 300 kWh every month, residents will have to pay in accordance with the market price.


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  1. G. says:

    It is not opening up.
    We still pay about 5 cents to the grid owner – a monopolist.
    5 cents goes to the government in VAT and other taxes.
    The remaining part is being liberalized.

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  2. Oddis says:

    It’s not liberalized. How can it be liberalized when government decides production? I can’t just go and start a production facility.

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  3. G. says:

    What if you put solar panels on your roof? Can you sell excess production to the grid?

    In some countries I know that private individuals can. I don’t know about Latvia.

    Thumb up 0 Thumb down 0

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