Latvian gas trader will no longer offer 'balanced' payment

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As of mid-September, Latvian gas trader Latvijas Gāze will no longer offer the 'balanced payment' option, according to the company's published settlement arrangements for natural gas users on August 24.

The balanced payment has been removed from the settlement procedures in the official publication Latvijas Vēstnesis.

The current arrangements provide that the balanced payment is set for a reporting period, and there is a fixed price each month according to the average consumption in the previous period (as opposed to a fluctuating bill each month).

Latvijas Gāze representatives refused to comment on the arrangements, indicating that more communication to the public and household customers on these issues is scheduled at the end of August, given that the new settlement arrangements will take effect from September 15 of this year.

The largest shareholders of “Latvijas Gaze” are Russia's Gazprom (34%), the Marguerite Gas II fund. S. a.r.l. '(28.97%), the German company Uniper Ruhrgas International GmbH (18.26%) and Itera Latvija (16%).

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