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Friday 21.10.2016 | Name days: Severīns, Urzula

New principles of Latvia’s gas market’s liberalization; Latvijas Gāze to be divided into two

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUThe Latvian parliament has approved amendments to the Energy Law that provide new gas market principles for traders and the rights to all Latvian gas consumers to choose a gas supplier. With that, Latvijas Gāze is now obligated to separate its gas management and storage from trade and supply by creating two separate companies by 3 April 2017.

Deputies supported the proposal to order Latvijas Gāze to provide third parties access to the gas system and calculate gas infrastructure usage fees.

Amendments also provide duties and rights of the system regulator, establish supervision over the system operator and develop rules for application of fines in events of legislative rules being breached.

As reported by Saeima press service, amendments provide for the realization of the final stage of the gas market reform.

«A gas market open for competition is crucial for Latvia’s national economy and the business environment as a whole. Creating effective conditions for the gas market will provide other gas traders with an opportunity to enter Latvia’s market and contribute to competition here. It will benefit residents and businesses. Liberalisation of the country’s gas market will secure stable and predictable energy policy,» – said Chairman of Saeima’s National Economy Committee Romans Naudins in regards to amendments.

The Energy Law will be added with gas market conditions, stating that the gas price will be established by market participants through a mutual agreement. Households will be able to receive a full draft of tariffs of from the system regulator. These will be established by the Cabinet of Ministers. Traders will be allowed to begin trading as long as they are registered with the gas traders register, according to amendments.

The state will be provided with pre-purchase rights for shares of the single gas transport and storage operator, natural gas transport system or any other part and gas storage facilities. If the state does not use its pre-purchase rights and instead decides to transfer ownership rights to some other subject, this transaction will be approved by the government based on reports from the Constitutional Protection Bureau and Security Police.

Currently there is only one company working on Latvia’s gas market – Latvijas Gāze. The country’s gas supply system is connected only to Lithuania’s and Estonia’s gas systems but not to other EU member states. Latvia also has only one gas supplier – Russia.


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