Expanding the range of the services provided to customers and implementing the objective set in the strategy of Latvenergo AS - development of new business areas, the Elektrum brand is the first active trader to launch operations in the natural gas market for households in Latvia. Until now, the service has been provided to households by the historic natural gas supplier Latvijas Gāze AS. The entry of Elektrum into the natural gas market for households provides customers with a choice of options and at the same time serves as an opportunity to develop competition.

Since the opening of the natural gas market in 2017, traders have been competing in the segment of business customers, whereas the service for households has been provided at a regulated price by only one existing supplier. The entry of Elektrum means that a competitive environment is starting to develop in the natural gas market in Latvia that has been passive so far.

Latvenergo AS has already been a significant player in the natural gas market up to now, being among the largest consumers of natural gas in Latvia. The opening of the market has diversified the options for the supply of resources, allowing for purchasing natural gas not only from Latvijas Gāze AS, but also from other sources using the liquefied gas terminal in Klaipeda.

It is essential that the offers of Elektrum to households are tailored to the needs of customers and are developed in response to their opinion of what is expected from a natural gas trader. The representatives of the most numerous segment who use natural gas for cooking and whose consumption is low are primarily interested in convenience of the service and ease of payments. In turn, customers with high consumption, who choose natural gas for home and water heating, emphasise the possibility of a friendlier price in addition to the quality of the service.

Elektrum provides natural gas customers with a combined electricity and gas bill and a competitive price and offers extra options for the safe use of natural gas. All customers have the opportunity to choose not only the main product – gas, but also additional features aimed at the safety of the service: the annual maintenance of the customer’s gas boiler.

Furthermore, Elektrum natural gas customers have access to the most convenient payment and customer service options in the industry – a mobile app, a self-service portal and free customer care.

“We are entering the natural gas market with the largest and longest customer service experience among energy traders not only in Latvia, but also in the Baltics. We are ready to offer it in the best way also to natural gas users, most of whom are already our customers in the electricity market. Therefore, our offer is a logical step towards the movement of Latvenergo Group as the leading provider of energy services to new expanded markets and services.

For customers, this means new options to choose from and ease of use that provide a stable service in a dynamic everyday life,” says Uldis Mucinieks, Sales Director at Latvenergo AS, commenting the decision to start selling natural gas to households.

The transition from the previous trader to Elektrum is simple and easy, as all formalities are settled by Elektrum.

Additional information:
Jānis Irbe
Group Treasurer
Phone: +371 67 728 239
E-mail: investor.relations@latvenergo.lv

www.latvenergo.lv

About Latvenergo

Latvenergo Group is one of the leading energy suppliers in the Baltics operating in electricity and thermal energy generation and trade, natural gas trade, electricity distribution services and lease of transmission system assets. Latvenergo AS has been acknowledged as the most valuable company in Latvia for several times. International credit rating agency Moody’s has assigned Latvenergo AS an investment-grade credit rating of Baa2/stable.

Latvenergo Group is comprised of the parent company Latvenergo AS (generation and trade of electricity and thermal energy, trade of natural gas) and seven subsidiaries - Latvijas elektriskie tīkli AS (lease of transmission system assets), Sadales tīkls AS (electricity distribution), Elektrum Eesti OÜ (trade of electricity and natural gas in Estonia), Elektrum Lietuva UAB (trade of electricity and natural gas in Lithuania), Enerģijas publiskais tirgotājs AS (administration of mandatory electricity procurement process) and Liepājas enerģija SIA (generation and trade of thermal energy in Liepaja, electricity generation). All shares of Latvenergo AS are owned by the state and held by the Ministry of Economics of the Republic of Latvia.