Latvia energy report

• Latvia targets a share of 50% of renewables in the final energy consumption in 2030.
• The power market is dominated by Latvenergo, a public utility.
• Gas transmission and storage operations were transferred to Conexus Grid following the unbundling of Latvijas Gaze.
• The country has a strong power interconnection with neighbouring countries. The share of hydropower in the power mix has been fluctuating between 33% and 60% since 2010.
• Electricity and gas prices are significantly lower than the EU averages for households.
• The energy intensity has been declining rapidly since 2010 (-3%/year).
• Biomass is the first fuel in total energy consumption.
• 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 by 2025 and new gas pipelines will be built to Lithuania and Estonia.

• Institutions & Energy Policy

  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. In 2020, Latvijas Gaze was mainly owned by Gazprom (34%), Marguerite Gas (28.97%), Uniper (18.26%), and Itera Latvia (16%).

• Energy Supply

  Gas:

  All gas is imported. Imports have been fluctuating since 2015 between 1.4 bcm and 1.1 bcm (2020). 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 due to lower extractions from the Inčukalns gas storage.

• Energy Prices

  Oil:

  Gasoline and diesel are subject to large excise taxes (58% and 54%, respectively, in 2021).

  Motor fuel prices follow international prices; gasoline and diesel prices rose by 9%/year and 12%/year, respectively, between 2016 and 2018. After a decrease in 2020, they reached €1.33/l and €1.23/l in 2021. Motor gasoline and diesel prices more than doubled between 2000 and 2018.

• Energy Consumption

  Energy consumption per capita is 2.2 toe (34% below the EU average), including 3 500 kWh of electricity, i.e. around 36% below the EU average (2020).

  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 accounting for nearly half of total electricity by 2030). Biomass consumption should increase to 30% of primary consumption in 2030 (target already achieved in 2019 with 37% of the primary consumption).

• GENERAL OVERVIEW
• INSTITUTIONS AND ENERGY POLICY
• ENERGY COMPANIES
• ENERGY SUPPLY
• ENERGY PRICES
• ENERGY CONSUMPTION
• ISSUES AND PROSPECTS
• DATA TABLES
• ABBREVIATIONS
• GLOSSARY

Download the Table of Contents

Below is a list of the Latvia energy market report graphs:

• GRAPH 1: CO₂-energy emissions (MtCO₂)
• GRAPH 2: Installed electric capacity by source (2020, %)
• GRAPH 3: Gross power production by source (TWh)
• GRAPH 4: Power generation by source (2020, %)
• 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 (2020 %)
• GRAPH 10: Final consumption market share by sector (2020 %)
• GRAPH 11: Oil consumption (Mt)
• GRAPH 12: Oil consumption breakdown by sector (2020, %)
• GRAPH 13: Electricity consumption (TWh)
• GRAPH 14: Electricity consumption breakdown by sector (2020, %)
• GRAPH 15: Natural gas consumption (bcm)
• GRAPH 16: Gas consumption breakdown by sector (2020, %)
• GRAPH 17: Coal consumption (Mt)
• GRAPH 18: Coal consumption breakdown by sector (2020, %)

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.