Rīga heating costs will almost halve in May

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Heating costs in Rīga will decrease by approximately 45 percent effective May 15, Rigas Siltums municipal heating company informed the LETA newswire April 13.

The company has submitted its new draft tariffs to the Public Utilities Commission, according to which the heating rate in Riga will be EUR 91.26 per megawatt-hour (MWh), without value added tax.

The current heating tariff in Riga is EUR 165.32 per MWh. Compared to the average heating cost this past heating season, EUR 180.97 per MWh, the new tariff is lower by half.

According to Rigas Siltums CEO Ilvars Petersons, the heating tariff will be reduced thanks to the decreasing prices of fuel - natural gas, wood chips and purchased energy, which make up 90 percent of the heating tariff.

According to Firmas.lv, Rigas Siltums last year generated EUR 146.45 million in turnover and earned EUR 5.4 million in profit in 2021. Rigas Siltums shareholders include the Riga City Council - 49 percent of shares, the state of Latvia - 48.995 percent, Energijas Risinajumi. RIX - 2 percent, and Latvenergo - 0.005 percent.

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