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Coalition approves using part of Latvenergo profit to reduce mandatory procurement component in electricity rates
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    Coalition approves using part of Latvenergo profit to reduce mandatory procurement component in electricity rates

    RIGA, April 16 (LETA) - The coalition has agreed to reduce the mandatory procurement component in electricity rates by using part of the joint-stock power utility Latvenergo's profit, Economics Minister Arvils Aseradens (Unity) told reporters after the coalition's meeting today.

    Prime Minister Maris Kucinskis (Greens/Farmers) said that the government would review the matter in a week.

    Earlier Aseradens said that residents' payments for the mandatory procurement component would decrease at least 13 percent by using part of Latvenergo's 2017 profit, EUR 78.9 million, for the purpose.

    The changes could come into force on July 1, the minister said.

    The mandatory procurement component is a fundamental macroeconomic mistake that has affected the entire nation, said Aseradens.

    • Published: 16.04.2018 17:39
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