This year, until the end of September, “Latvijas gāze” worked with a loss of EUR 24.9 million

A management report said that after the opening of the household market in May this year, LG has retained more than 90% of its household customer portfolio compared to the number of customers at the beginning of this year.

The impact of the company’s economic activities is still being affected by the Cabinet of Ministers’ regulations “On the supply of energy users during early warning and alarm level announcements”, which imposed the obligation on the public trader to maintain stocks of Inčukalna PGK in the amount of 1150 gigawatt hours (GWh) for the supply of related users in the period from 10 August until April 30, 2023.

Due to these regulations, LG had 236 GWh of natural gas on its balance sheet as of April 30, which was reserved only for household supply and could not be resold to other customers at prices corresponding to the market level, despite the actual reduction of the volume required for the gas supply needs of related users by 20% both in 2022 ., both in 2023, compared to the average consumption of the previous three years.

It has already been reported that LG’s turnover in 2022 was 702.604 million euros, which is 32.5% more than in 2021, but the company’s profit increased several times and reached 40.824 million euros.

LG’s largest shareholders are Russia’s Gazprom (34%), SIA “Energy Investments” owned by LG management members Aigars Kalvītis, Elitas Dreimanes and Egīlas Lapsali (28.97%), German company “Uniper Ruhrgas International GmbH” (18.26% ) and SIA “Itera Latvija (16%).