Latvia's electricity price to drop for the first time ever

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The household electricity price is expected to drop 6-8% next year, said Latvian Economics Minister Dana Reizniece-Ozola in an interview to LNT television on Friday.

"I have good news about electricity prices. The open market has been working for a year already and for the first time in Latvia's history consumers will see a drop in electricity prices," the minister said. 

"Latvenergo power utility will soon send an offer to its customers, where the electricity price will by by 6 to 8% percent lower next year than this year," she said.

She said that the price drop has been promoted by the new Swedish-Lithuanian power link and expansion of the Latvian-Estonian power link.

Latvenergo is a state-owned electricity utility, which also provides telecommunications and IT services.

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