Electricity prices may decrease in spring

Electricity prices have been about 50% higher in July and August on year due to the hot weather, said Jānis Bethers, head of the Enefit energy company.

He said that people with fixed electricity bills should expect them to grow and that prices are to decrease only in the spring when the snow starts to melt, increasing output at Latvia's hydroelectric power plants.

Nevertheless Bethers says future forecasts are more optimistic as there's growing investment into wind energy

"It's cheap energy, and it means electricity prices will decrease in the future," he said.

Bethers also said that about 5% of Latvia's households have changed their supplier since Latvia opened its electricity market in 2015. 

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Economy
Economy