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Latvia energy report

Latvia energy report
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Format
3 files (PDF report, 2 Excel files)
Pages
54 (Report only)
Delivery
Immediate by e-mail
Table of Contents
  • GENERAL OVERVIEW
  • ENERGY AND CLIMATE POLICY FRAMEWORK
  • ENERGY COMPANIES
  • ENERGY SUPPLY AND DEMAND
  • ENERGY USE AND PRICE BY SECTOR
  • ISSUES AND PROSPECTS
  • STATISTICS
  • ABBREVIATIONS
  • GLOSSARY

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Overview

Latvia’s energy sector is advancing towards ambitious sustainability goals, targeting a 61% renewable share by 2030 while reducing emissions by 59% from 1990 levels. The country has liberalised its electricity and gas markets, strengthened regional integration through EU grid synchronisation, and expanded cross-border energy infrastructure. Hydropower dominates generation, supported by growing solar and wind capacity, while biomass remains central to heating and industry. State-owned Latvenergo leads electricity supply, with Conexus Baltic Grid managing gas transmission. Future priorities include offshore wind development, grid upgrades, and enhanced energy storage to bolster security and decarbonisation.

Get more details on the table of contents and data files, as well as the list of graphs and tables by browsing the tabs below.

Highlights

  • Latvia targets a share of 61% of renewables in the final energy consumption in 2030.
  • The power market is dominated by Latvenergo, a public utility. Following Latvijas Gaze's unbundling, gas transmission & storage operations moved to Conexus Grid, while distribution was transferred to Gaso.
  • The country has a strong power interconnection with neighbouring countries.
  • The share of hydropower in the power mix is fluctuating significantly (between 33% and 60% since 2010).
  • The final energy consumption has remained stable since 2015.
  • Electricity and gas prices have surged since 2020. Electricity prices for households are now 20% higher than the EU average, while for gas they are below that average.
  • The country is counting on the upgrade of its hydropower plants and on new electricity interconnections to boost its power supply.
  • The capacity of the Inčukalns gas storage facility will be raised in 2025 and new gas pipelines will be built to Lithuania and Estonia.
70%
share of renewables in the power mix in 2023
-76%
GHG emissions since 1990
3%
annual decrease in energy intensity since 2010

  • Energy & Climate Policy Framework

    The Ministry of Economics supervises the energy sector through the Sustainable Energy Policy Department, the Energy Market and Infrastructure Department, and the Energy Efficiency Department.

    The Public Utilities Commission (PUC, or SPRK), an independent organism, regulates the energy sector, telecommunications, the post, and the railways.

  • Energy Companies

    Gas:

    Latvijas Gaze was unbundled in 2017: its transmission and storage operations were transferred to a new company named Conexus Baltic Grid, while gas distribution and sales operations were transferred to a new company called Gaso.

  • Energy Supply & Demand

    Gas:

    All gas is imported. Before a sharp -10%/year since 2021 to reach 0.9 bcm in 2024, imports had been fluctuating between 1.4 bcm in 2015 and 1.1 bcm in 2021. They fell by 44% in 2014 due to warm temperatures, but soared (+38%) in 2015, owing to a rising demand from the power sector and to lower extractions from the Inčukalns gas storage.

  • Energy Use and Price by Sector

    Energy Prices in Residential:

    Energy products are subject to a VAT rate of 21% (since 2012). The reduced VAT rate on gas for households was removed in 2011.

    Between 2020 and 2023, electricity prices for households increased by 8% per year, reaching €31.8c/kWh in 2023. In 2024, these prices decreased by 31% to €21.8c/kWh. In 2024, household electricity prices were 20% higher than the EU average.

  • Issues & Prospects

    The National Energy and Climate Plan (NECP) forecasts that total energy consumption will decrease from 52 TWh in 2021 to 44.7 TWh in 2030 (-14%). The plan also projects that electricity will account for more than 80% of final energy consumption by 2030 (53.5% in 2022), with the share of renewable electricity in domestically produced electricity reaching 100% (75.7% in 2022).

  • Graph 1: Primary Consumption Trends by Energy Source (Mtoe)
  • Graph 2: Total Consumption Market Share by Energy (2024, %)
  • Graph 3: Installed Electric Capacity by Source (GW)
  • Graph 4: Installed Electric Capacity by Source (2024, %)
  • Graph 5: Gross Power Production by Source & Consumption (TWh)
  • Graph 6: Power Generation by Source (2024, %)
  • Graph 7: Petroleum Products Production & Consumption (Mt)
  • Graph 8: Gas Production & Consumption (bcm)
  • Graph 9: Coal Production & Consumption (Mt)
  • Graph 10: GHG Emissions and CO2-energy Emissions (MtCO2)
  • Graph 11: Final Demand Trends by Energy Source (Mtoe)
  • Graph 12: Final Consumption by Sector (Mtoe)
  • Graph 13: Final Consumption Market Share by Sector (2024, %)
  • Graph 14: Final Consumption in Industry by Energy Source (Mtoe)
  • Graph 15: Energy Prices Including Taxes in Industry (EURc/kWh GCV)
  • Graph 16: Final Consumption in Transport by Energy Source (Mtoe)
  • Graph 17: Energy Prices Including Taxes in Transport (EUR/l)
  • Graph 18: Final Consumption in Residential, Services, Agriculture by Energy Source (Mtoe)
  • Graph 19: Energy Prices Including Taxes in Residential (EURc/kWh GCV)
  • Graph 20: Upcoming New Capacity by Energy Source (GW)
  • Economic Indicators: Annual historical data including population, GDP growth, imports and exports, inflation rate, energy security and efficiency indicators, CO2 emissions.
  • Supply Indicators: Historical data including oil and gas reserves, electric and refining capacity, energy production, power production and external trade. All are detailed by energy source.
  • Demand Indicators: Historical data including consumption per inhabitant, consumption trends, total consumption by energy source, final consumption by energy source and sector, and electricity consumption by sector.
  • Energy Balances: Single table displaying the overall energy industry balance per annum, also graphically displayed by energy sub-segment.

The Latvia energy market data since 1990 and up to is included in the Excel file accompanying the Latvia country report.
It showcases the historical evolution, allowing users to easily work with the data.

Key Data included in the excelsheet:

  • Economic indicators: Annual historical economic indicators, energy security, energy efficiency and CO2 emissions.
  • Supply indicators: Annual historical reserves, capacity, production and external trade (imports(+) exports(-) balance).
  • Demand indicators: Annual historical consumption per capita, consumption trends, total consumption, final consumption (per energy and per sector) and electricity consumption total and per sector.
  • Energy Balance: total and per energy.
  • Latvia Energy Prices: In addition to the analysis provided on the report we also provided a data set which includes historical details on the Latvia energy prices for the follow items: price of premium gasoline (taxes incl.), price of diesel (taxes incl.), price of electricity in industry (taxes incl.), price of electricity for households (taxes incl.), price of natural gas in industry (taxes incl.), prices of natural gas for households (taxes incl.), spot price of Brent and CO2 emissions (from fuel combustion).