Latvenergo produced 35% of electricity generated in the Baltics in the first half of the year – Branches – Financenet

The company mentioned that Ignitis in Lithuania had produced 0.6 TWh or 8% of the total during this period, while Eesti Energia in Estonia had produced 1.6 TWh or 22%.

In general, electricity generation in the Baltics has decreased, but in Latvia the amount of electricity generation was 4% higher than in the corresponding period last year.

The largest development is in Daugava hydroelectric power plants (HPPs), where it is 58% higher and reaches 1.8 TWh compared to the corresponding period last year. The average water inflow into the Daugava in the first half of 2020 was 726 cubic meters per second, but in the corresponding period last year – 447 cubic meters per second. In the first half of 2020, the electricity generated from renewable energy sources in the Group accounted for 71%, while in the corresponding period of 2019 – 49%.

Latvenergo’s thermal power plants (TEC) produced 720 GWh of electricity and 978 gigawatt hours (GWh) of heat. According to the Central Statistical Bureau, the average air temperature during the heating season in Riga in the first half of the year was +4.5 degrees, but in the first half of 2019 it was +2.7 degrees.

The turnover of the Latvenergo Group in 2019 was 841.6 million euros, which is 0.3% more than a year earlier, but the Group’s profit increased by 24.2%, reaching 94.4 million euros.

Latvenergo is engaged in the production and sale of electricity and heat, as well as in the sale of natural gas and the provision of electricity distribution services. Latvenergo’s bonds are listed on the Nasdaq Riga debt securities list.

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