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Trade

Latvenergo Group trades electricity and natural gas in the Baltic states under the Elektrum brand. The products and services are designed for different consumption and usage patterns so that each customer can choose the most suitable offer.

The Group is one of the leading energy traders in the Baltic states. Its market share accounts for about 25% of the Baltic electricity market, where the total consumption is around 28 TWh. In 2018, 7 TWh of electricity were sold to retail customers in the Baltics. More than 1/3 of this amount constitutes electricity sold outside Latvia, which has increased by 11% compared to the previous year and exceeds 2.5 TWh.

In the reporting year, Latvenergo Group was the second largest natural gas consumer in the Baltic states. The amount of natural gas consumed by the Group for its own use and sold to customers amounted to 6.9 TWh. Of this volume, 0.15 TWh were sold to retail customers. At the end of the year, Latvenergo had more than 400 retail natural gas customers in the Baltic states.

The Group continues to develop the trade of supplementary services in the Baltic states. The service Elektrum Solar, which provides for  the possibility to use independently generated electricity from solar light, is now also available in Lithuania and Estonia. Approximately 100 customers have signed a contract for the installation of solar panels in the Baltics. In 2018, 370 Elektrum Smart House devices, which provide remote control of home heating and electrical appliances, were installed for customers. In the reporting year, the Group also started trading natural gas in Lithuania.

The Group has about 800 thousand customers across the Baltics. Of these, 96% are households and 4% are business customers. In 2018, the number of business customers increased by 1%, while the number of household customers fell by 6%. The main reason for the decrease is the growth of competition in the household segment, especially in Latvia.

Sources of electricity and natural gas delivered to final customers in 2018.

For more information on products and services, see the elektrum.lv portal.

 

Questions and complaints can be submitted to the Latvenergo AS customer service via phone, e-mail or by sending a letter. Answers are provided within 15 days, or within 30 days if there is a need for additional controls or other significant information. Disputes that have arisen between a customer and Latvenergo AS during the contract period and that cannot be settled by mutual agreement are to be reviewed in accordance with the law in a court of general jurisdiction.

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