Eesti Energia subsidiary now sells electricity in Riga

Enefit SIA is Latvia's second-largest electricity utility. (Postimees/Scanpix)
4/4/2016 9:31 AM
Category: Business

Enefit SIA has won a tender of the City of Riga and will sign a contract shortly to sell electricity to the city until the year 2019.

The contract is the biggest business deal in the 10-year existence of the Eesti Energia subsidiary. It covers the delivery of 84,000 MWh of electricity per year, worth a total of €12.8m.

Karla Agan, in charge of selling electricity at Eesti Energia, said that they had taken up selling fixed electricity contracts in Latvia in Lithuania last year. “Today we can see that this has strongly helped increase our competitiveness,” Agan said. According to Agan, Enefit sold more than a million MWh of electricity over the last year.

He pointed out that the possibility to fix the price difference risk between the exchange areas of Estonia and Latvia made it possible to make competitive offers to customers.

Enefit supplies 28 local governments and several large corporate customers both in the private and public sectors. Among them are Latvia’s state broadcasting corporation and its radio broadcasting center.

With its 15% share of the Latvian market, Enefit comes in a strong second after Latvia’s state utility Latvenergo. The number of end users Enefit supplies increased by a third in 2015.

Editor: Dario Cavegn

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