Latvia energy report
This analysis includes a comprehensive Latvia energy market report and updated datasets. It is derived from the most recent key economic indicators, supply and demand factors, oil and gas pricing trends and major energy issues and developments surrounding the energy industry. The report provides a complete picture of the country situation, dynamics, current issues and future prospects. With 2018 market data and continuous follow-up of markets news, this report brings clear and concise insights with which to tackle national energy challenges and opportunities. Browse the tabs below for a detailed table of contents, the list of graphs and tables, and details on the data files.
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Institutions & Energy Policy
The Ministry of Economics supervises the energy sector through the Energy Market and Infrastructure Department and the Renewable Energy and Energy Efficiency Department. It drafts the energy policy and works to ensure energy security through the promotion of renewable energies, increased interconnections and energy efficiency.
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.
Latvia does not have a refinery. It imports all its refined products by rail and pipeline from Russia, Belarus and the Lithuanian refinery of Mazeikiai. Oil product imports increased steadily (+7.3%/year) between 2010 and 2016, reaching 2.7 Mt in 2016, but dipped subsequently by 5.5%/year to 2.4 Mt in 2018.
Taxes account for 21% of industrial electricity prices and for 29% of residential prices (2018). Electricity prices increased 5.6%/year for industry and 9.4%/year for households between 2010 and 2015. They have remained stable since then at €c10.4/kWh for industry and €c15.2/kWh for households in 2018.).
Energy consumption per capita is 2.4 toe (18% below the EU average), including 3 500 kWh of electricity, i.e. around 37% below the EU average (2018).
Graph: CONSUMPTION TRENDS BY ENERGY SOURCE (Mtoe)
Issues & Prospects
The Energy Strategy of the Energy Ministry forecasts that total energy consumption will increase by 3.7% between 2020 and 2030. By 2030, electricity consumption should grow by 24% (with wind power accounting for nearly half of total electricity by 2030). Biomass consumption should increase by 31% between 2010 and 2030 (to 30% of primary consumption).
- GENERAL OVERVIEW
- INSTITUTIONS AND ENERGY POLICY
- ENERGY COMPANIES
- ENERGY SUPPLY
- ENERGY PRICES
- ENERGY CONSUMPTION
- ISSUES AND PROSPECTS
- DATA TABLES
Below is a list of the Latvia energy market report graphs:
- GRAPH 1: CO2-energy emissions (MtCO2)
- GRAPH 2: Installed electric capacity by source (2018, %)
- GRAPH 3: Gross power production by source (TWh)
- GRAPH 4: Power generation by source (2018, %)
- GRAPH 5: Gasoline & diesel prices (€/l)
- GRAPH 6: Electricity prices for industry and households (€c/kWh)
- GRAPH 7: Gas prices for industry and households (€c/kWh GCV)
- GRAPH 8: Consumption trends by energy source (Mtoe)
- GRAPH 9: Total consumption market share by energy (2018 %)
- GRAPH 10: Final consumption market share by sector (2018 %)
- GRAPH 11: Oil consumption (Mt)
- GRAPH 12: Oil consumption breakdown by sector (2018, %)
- GRAPH 13: Electricity consumption (TWh)
- GRAPH 14: Electricity consumption breakdown by sector (2018, %)
- GRAPH 15: Natural gas consumption (bcm)
- GRAPH 16: Gas consumption breakdown by sector (2018, %)
- GRAPH 17: Coal consumption (Mt)
- GRAPH 18: Coal consumption breakdown by sector (2018, %)
In the Latvia energy market report you will find the following tables:
- 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.
- Infrastructure Projects: Covers power plant projects by energy, technology, status and operator, gas plant projects by status and operator and LNG contracts.
The Latvia energy market data since 1990 and up to 2018 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).
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