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Tuesday 17.07.2018 | Name days: Aleksejs, Aleksis
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Economy Minister: economic competitiveness is in the heart of our energy strategy

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Daniels Pavluts

Energy is one of the most important industries of our national economy. This industry directly affects the country’s economic growth. Experience shows that the development of the energy sector in the world is usually planned in a long-term perspective, because the development of this sector requires notable investments, which, in turn, is only possible for investors in a predictable long-term perspective, Economy Minister Daniels Pavluts says.

This is why the EM has developed guidelines for the planning of the country’s energy policy until the year 2030 – “Long term energy strategy 2030 – competitive energy for society” (Strategy 2030). It is planned to submit the necessary documents for inter institutional approval. These documents are to be reviewed by the government and the Saeima by the end of the year, Economy Ministry reports.

The goal of Strategy 2030 is to improve competitive economy in order to guarantee a balanced energy policy that would adhere to economic and social interests. This will be achieved by creating a balanced, effective, economically, socially and ecologically justified energy policy. One that would be based on market principles – all to ensure the development of Latvia’s economy it competitiveness in the region and the wellbeing of the world and society.

This is planned to be achieved by employing effective renewable energy resource use technologies, performing energy efficiency improvement measures and reaching EU longevity goals.

Along with specific goals there are also quantitative indexes on how to reach them. In order to reach the main goal of Strategy 2030 – improving competitive economy – , a challenge is presented to increase the share of manufacturing in economy to 20%, which, given the high energy intensity of the industry, will be affected by medium and long-term energy policy. One of the indexes that would indicate in increased safety of energy supply is the use of renewable energy sources. This is why the strategy contains the goal to guarantee a proportion of 50% of renewable energy sources in 2030 in heating, electric energy and transport sectors.

At the same time, reaching all the goals of Strategy 2030 will be significantly affected by energy efficiency and the carrying out of the necessary measures in any relative sub-sectors. This is why the strategy contains measures called to reduce the use of heating energy to 100kWh/m2 in 2030.

“Strategy 2030 offers a completely new approach to planning energy policy by including context with other important industries, including the general economic growth and its competitiveness. Strategy 2030 is planned based on the country’s national economy projections, including demographic, GDP and industry development tendencies,”- Economy Minister explains.

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