Tuesday , May 11 2021

For most Elektrum customers' accounts will not exceed EUR 3.5 per month



Most electricity companies, or 80% of energy companies, will not exceed 3.5 euros a month, according to Latvenergo "Elektrum", Uldis Mucinieks, a sales director for Latvenergo, told a press conference on Thursday.

About 10% of Elektro's electricity bills will not increase, 40% will increase to 1.70 euros, 30% – to 3.50 euros, and 20% – to more than 3.50 euros a month.

He explained that the increase of the account depends on the consumption of the electricity of the buyer. 10% of all customers of Elektrum are protected users, whose accounts will remain the same as in the next year. 40% of consumers with electricity consumption up to 100 kilowatt hours (kVh) will have an invoice of 1.70 euros a month, 30% consumption from 100 to 200 kVh, an increase of 3.50 euros, and an additional 20% increase in the price of customers. for more than 3.50 euros.

Mucenieks said that the increase in electricity prices in Latvia is related to the prices of the Scandinavian stock market. The interconnected Baltic has been integrated into the Scandinavian electricity market, where the price of shares was very high this year.

Customers who bought electricity in line with changes in the price of the stock market using market products experienced price fluctuations from the summer. On the other hand, for users using fixed telephony products, price changes come into effect at different times, in accordance with the terms of the contract. Approximately 85% of the customer contract is closed on January 1, since the date of opening of the electricity market is open, so the proposed tariff is changed on that date, explained Mucenieks.

"The rise in electricity prices this year has been mostly affected by weather conditions. The rise in electricity prices is the price we pay for a nice and long summer," Mucenieks said, stating that Scandinavia generates a lot of electricity from the water and the wind. "If there are no water in the rivers, then electricity has to be produced in other ways and it is getting more expensive," he added.

When comparing the ten-year period of 2018 and the same period last year, the price of electricity in the Scandinavian region increased by 49%. In Latvia, the price increase is about 40%.

Speaking of future forecasts, Mucenieks said electricity prices in the first half of 2019 will remain the same. "We do not expect the stock market to fall significantly next year," Mucenieks said, adding that next year does not look too hopeful, as the water level in the Scandinavian rivers will not recover and be small.

Latvenergo serves about 95% of electricity users in Latvia.

As of January 1, 2019, Latvenergo's electricity consumers will increase their electricity bills by 0% to 15%.

Latvenergo project manager Ilvija Livmane informed that Elektrum will send new prices to all future customers by the end of the year, in accordance with the terms of the contract. Price changes are individual, depending on the amount of electricity consumed. For example, two customers with the same type of connection will use the product "Elektrum 600+", and if you spend 600 kilowatt hours (kVh) per month, then the electricity consumption per kilowatt-hour (kVh) will vary, even within one product, depending on of the amount of electricity consumed. the other 900 kVh per month, then the price for kVh for one product will be different, "Latvenergo's spokeswoman explains.

The company said that in the 10 months of 2018 compared to the same period of 2017, the prices of electricity on the stock exchange increased by 49%. Livmane also stressed that electricity billing is just one of the components in the electricity bill, which makes up about a third of the total payout. "The share of electricity in household accounts next year will increase by about 33-35%, but since the electricity bill in the total account is only one-third, the total cost of the account will be 0-15%. A significant number of customers, such as protected users, changes will not be or will be minimal at all. On the other hand, the increase in the account will affect the power of the connection and the amount of electricity consumed by other users, "a company representative explained.

Elektrum users have recently received notifications on changes in electricity prices from January 1 next year. Although for individual customers the price remains the same or even reduces, many tariffs for electricity are rising.


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