Latvenergo Group trades electricity and natural gas in the Baltic States under the Elektrum brand. The product range is designed for different consumption and usage patterns so that each customer can choose what is most suitable.
In 2017, Latvenergo Group was among the leaders in electricity trade in the Baltics. The market share of the Group accounts for approximately 27% of the total Baltic retail electricity market, where the total consumption amounts to approximately 26 TWh. Latvenergo Group’s retail electricity supply in the Baltics in 2017 was 6.9 TWh, or 10% less compared to the previous year. The decrease is related primarily to increasing competition in the large business customer segment. The electricity sales outside Latvia amounted to 2.3 TWh and accounted for approximately 1/3 of the total retail sales of electricity. In 2017, Latvenergo Group commenced sale of natural gas to business customers in Latvia and Estonia and approximately 100 contracts were signed by the end of the year.
In the customer breakdown according to segments, households constituted 96% of the total number of customers and business customers constituted 4%. At the end of 2017, Latvenergo Group had approximately 799.6 thousand customers in the household segment and 34.1 thousand business customers:
- 773.4 households and 34.1 thousand business customers in Latvia;
- 7.1 thousand business customers in Lithuania;
- 26.2 households and 2.1 thousand business customers in Estonia.
In comparison to 2016, the number of corporate customers in the Baltics increased by 1% and the number of household customers decreased by 3%.
In 2017, the Group introduced two new electricity products for the household segment. One of them is Elektrum Smart House, which provides remote control of space heating and electrical devices at home. Elektrum Solar is the other new product; it provides for the possibility to use independently generated electricity from solar light.
For more information on products and services, see the elektrum.lv portal.