Extreme heating bills unlikely next season, says minister

An unprecedented increase in energy prices is not expected in the next heating season, but the state is working on aid if households need one, the Minister for Climate and Energy Raimonds Čudars (New Unity) told Latvian Television on June 27.

“There is great hope that we will not face 2022/2023 [price levels],” the minister added.

"We are talking about gas prices, LNG, where the price is currently around €30 per megawatt hour. The forecast is also sufficiently proportionate in the coldest winter months by the end of the year. The market is alive, traders are storing gas in Inčukalns natural-gas storage in much larger volumes than last year. There are currently no breaks or problems directly related to natural gas,” noted Čudars.

At the same time, the Minister said that energy prices could be affected by circumstances that “do not depend on us”, for example for a geopolitical reason.

Therefore, the Ministry of Climate and Energy (KEM) works on a household support system that would be “triggered” when price increases were observed and households needed support in the energy price crisis. The Minister said that the support system would be ready until the next heating season.

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