VIDEO ⟩ “Latvenergo” achieved turnover and profit records last year

Last year, the turnover of the “Latvenergo” group provisionally reached 1.842 billion euros. This is 70% more than a year ago.

“It is humanly very understandable. But all the alternatives that the proponents are able to offer do not really correspond to the existing market regulation. They do not correspond to the market either. Artificially lowering the profit would somehow affect the wider market of the region where electricity is traded,” says the executive director of the Latvian Association of Electric Power Engineers and Energy Builders Gunars Valdmanis.

The aspect of competition should also be taken into account. “Latvenergo” works in competition with others, including foreign energy merchants. The company reminded that the money earned by foreign companies in Latvia flows out of the country.

“Latvenergo” plans to pay approximately EUR 130 million in dividends to the state from last year’s profit.

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