Expert: energy price ceiling a temporary measure

Energy resource price ceiling restrictions should be temporary, energy expert and consultant Juris Ozoliņš said in an interview with Latvian Radio September 20.

He suggested that the best way would be simply to reduce consumption, but admitted that "in wartime everything must be done to reassure the public in order to keep the energy supply systems working".

Ozoliņš emphasized that the price ceiling restriction should be temporary and that generation of additional capacity was essential.

"The whole strategy [is] based on the introduction of new renewable capacities, where we have fallen asleep mercilessly. That is why we saw record prices. We have to go forward and see how it will go with the introduction of new capacities and resources in the electricity market. How skillfully the government institutions will work with investors. Latvenergo has great ambition. Until that materializes, some mechanisms will have to be applied," said Ozoliņš.

In response to the question of what the energy resource price ceiling could be, Ozoliņš mentioned that it could be around 200 or 180 euros per megawatt hour.

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