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Wednesday 18.07.2018 | Name days: Rozālija, Roze

Aseradens: Latvia’s and Nordic countries’ priorities are similar in the energy sector

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUCooperation between Latvia and Nordic States in the energy sector is an example of a great story of success, said Latvian Economy Minister Arvils Aseradens at the opening of an international conference between Nordic States and Baltic States on Wednesday, 19 April.

The minister said that priorities of Latvia and Nordic countries are similar in the energy sector. These priorities include securing safe, de-carbonized energy at competitive prices in the free market. Secondly, countries expect higher added value and innovations from the industry. Thirdly, Nordic countries are prepared to share knowledge with other world regions.

According to the minister, the best example for the need to cooperate is the energy market and the realization of the Baltic Energy Market Interconnection Plan (BEMIP).

Aseradens says the integration of Latvia’s energy market into Nord Pool and development of interconnection has already secured a decline of electricity prices in Latvia by nearly 30% since 2013.

At the same time, he notes that energy supplies from Nordic countries have increased energy security of Baltic States and have increased their competitiveness on the market.

Baltic States now stand before a new challenge – integration into the European Union’s energy supply system and reduction of dependence on eastern neighbours. In accordance with new studies, the most effective solution would be creating interconnection between Lithuania and Poland.

The minister emphasized that such a project could potentially secure new opportunities for Baltic and Nordic energy companies in Europe. At the same time, Baltic States will remain open for closer integration in Nordic markets.

Aseradens adds that good cooperation examples can be used in other fields, such as creation of a regional and integrated gas market, renewable resources, heating energy and energy-efficient technologies market.

The conference Nordic and Baltic States energy perspectives – climate change, energy security and energy solutions is organized by the Nordic Ministers Council Office in Latvia in cooperation with Norwegian, Finnish and Swedish embassies in Latvia.

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