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Saturday 24.08.2019 | Name days: Boļeslavs, Bērtulis
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Latvian energy giant’s temporary council steps down

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUThe temporary council of Latvenergo has decided to step down, BNN was told by the council’s chairman Pāvels Rebenoks.

He explains this decision with «political pressure», as well as difficulties for council members to perform their tasks, specifically reduction of electricity bills.

As previously reported, Latvenergo’s council was dissolved on 19 June.

Latvian Economy Minister Ralfs Nemiro’s decision caused some confusion for his colleagues and Prime Minister Krišjānis Kariņš even requested explanations from him.

Previously Nemiro explained his decision to dissolve Latvenergo’s council with slow progress in reducing electricity tariffs.

The dissolved council included the following members: DNB Bank governor in Latvia Andris Ozoliņš, Latvian national airline airBaltic board member and Slovakian citizen Martin Sedlacky, Economy Ministry’s ex-deputy state secretary and ex-chairman of Riga International Airport Andris Liepiņš, Finance Industry Association’s (previously known as Latvian Association of Commercial Banks) ex-president and State Real Estate council member Mārtiņš Bičevskis, as well as ex-board chairperson of RB Rail Baiba Rubesa.

A temporary council was appointed after the old one was dissolved. Rebenoks was appointed as its head. Rigensis Bank board member Renārs Degro was appointed as deputy chairman. Other council members include Inese Kublicka, Artūrs Šnoriņš and Kristaps Stepanovs.

Latvenergo is a state company. Economy Minister is its shareholder. The shareholder’s interests are represented by Economy Ministry’s state secretary Ēriks Eglītis.

Audited turnover of the parent company was EUR 435.199 million in 2018, which is 12.7% less when compared to 2017, whereas the company’s profits grew 41% and was EUR 212.733 million.

Latvenergo is company that produces and sells electrical and heating energy, as well as natural gas trade and electricity transmission services.


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