Latvian electricity utility to start selling gas to households

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The Latvenergo energy company will start selling natural gas to households under its Elektrum brand, Latvenergo representative Ivita Bidere told the LETA newswire February 12.

Latvenergo representatives on February 14 will inform the public about Elektrum's offer to 432,200 households in Latvia and future development of the Latvian natural gas market, LETA said.

Elektrum already offers gas supply to businesses.

Physical supply of gas, regulated by the state, will still be ensured by the transmission and distribution operators Conexus Baltic Grid AS and Gaso AS regardless of the chosen trader.

Latvenergo Group posted EUR 925.627 million in audited turnover last year, which is 0.6 percent less than in 2016, while the group's profit increased 2.5 times to EUR 322.021 million.

Latvenergo Group is the largest pan-Baltic power supply utility operating in electricity and thermal energy generation and trade, natural gas trade, electricity distribution services and lease of transmission system assets. Latvenergo has two bonds quoted on the Baltic Bond List of the Nasdaq Riga stock exchange.

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