She points out that in accordance with the electricity system transmission operator JSC “High Voltage Network” (AST) for statistics, Latvia has been a stable electricity importer at least from 2018 to 2024.
Last year, Latvia imported 1,074 319 MWh electricity and its average price was 87.43 euros per MWh, so Latvia paid EUR 93.92 million or EUR 256,561 per day to other countries in 2024. It is an amount that does not reach the Latvian economy, leaving a negative impact on the solvency of the Latvian population.
The Christmas tree explains that generally electricity generation in its country is very important and is visible on several levels.
She points out that, for example, Latvian electricity sweets are stable negative, and in 2024 alone, Latvia paid EUR 93.92 million to other countries for electricity.
In addition, the level of production is very important in the value chain – if electricity is produced by local companies or state -owned companies, the income from electricity generation enters the state budget both taxes and dividends. On the other hand, if electricity is produced by foreign companies, the profit in the state budget is much lower, but at least tax revenue is generated. The involvement of local entrepreneurs in the construction and operation of wind power plants (VES) is essential.
As Eglīte points out, Latvia has a very high potential for electricity generation, and wind energy is a direction to develop because it has an obvious positive impact on the economy, promotes the economic development of secondary sectors, and promotes the entry of new energy -intensive sectors in Latvia.
The contribution of the development of Ves parks to the economy from electricity production in Latvia is wide, notes Eglite.
“This is not just a construction process, but it is also a benefits for local entrepreneurs who contribute to the economic development of the counties,” says Eglīte, explaining that, for example, the developer of the wind park has to pay € 2,500 for each installed power MW for the local community, which in Latvenergo’s future wind park Lafloro Energy.
As a second example, the Christmas tree mentions Latvenergo’s future wind park “Milk” in Tukums County with a total capacity of 144 MW, where the local community will receive EUR 360,000 each year and around 10.8 million euros in 30 years.
It has already been reported that the turnover of Latvenergo Group last year was EUR 1.704 billion and profit of EUR 273.65 million. The parent company’s turnover was EUR 1,057 billion and the profit of EUR 265,575 million.
Latvenergo is engaged in the production and marketing of electricity and heat, as well as the trade of natural gas and the provision of electricity distribution services. Latvenergo bonds quote Nasdaq Riga on the list of debt securities.
