Latvenergo AS

Riga, Latvia

Latvenergo AS

Riga, Latvia

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News Article | May 11, 2017
Site: globenewswire.com

Riga, 2017-05-11 07:54 CEST (GLOBE NEWSWIRE) -- The Annual Shareholders’ Meeting of Latvenergo AS was held on 10 May 2017 at 15:00 at the premises of Latvenergo AS at 12 Pulkveža Brieža Street, Riga. The resolutions adopted at the Annual Shareholders’ Meeting: 1.    To approve „Latvenergo konsolidētais 2016.gada pārskats”, financial statements are prepared in accordance with the International Financial Reporting Standards as adopted by the European Union; 2.      To approve „Latvenergo Consolidated Annual Report 2016”, financial statements are prepared in accordance with the International Financial Reporting Standards as adopted by the European Union; 3.      To approve “AS “Latvenergo” 2016.gada pārskats”, financial statements are prepared in accordance with the International Financial Reporting Standards as adopted by the European Union; 4.      To approve “Latvenergo AS Annual Report 2016”, financial statements are prepared in accordance with the International Financial Reporting Standards as adopted by the European Union; 5.1. To approve the distribution of Latvenergo AS profit for the year 2016 of EUR 137,440,872 as follows: 1)   EUR 73,021,305 to pay out to the state in dividends; 2)   EUR 64,419,567 to retain and transfer to Latvenergo AS reserves with a purpose to decide on their pay-out to the state in dividends, by adopting such decision along with decision on distribution of Latvenergo AS profit for the year 2017; 5.2. To pay out in dividends EUR 17,120,530, which have been transferred from Latvenergo AS profit for the year 2015 to Latvenergo AS reserves with a purpose to decide on their pay-out in dividends, by adopting such decision along with a decision on distribution of Latvenergo AS profit for the year 2016; 6.      To appoint ERNST & YOUNG BALTIC SIA to conduct the audit of Latvenergo AS for the year 2017, determining a remuneration of the auditor up to EUR 37,768 excl. VAT. Latvenergo Group is a pan-Baltic energy company, engaging in electricity and thermal energy generation and supply, electricity distribution services and management of transmission system assets. Latvenergo Group holds one-third of the entire Baltic electricity market, thus ensuring its leadership in the Baltic electricity supply. Latvenergo AS has been acknowledged as the most valuable company in Latvia for several years in a row. International credit rating agency Moody’s has assigned Latvenergo AS an investment-grade credit rating of Baa2/stable. Latvenergo Group includes the parent company Latvenergo AS (electricity and thermal energy generation and supply) and its subsidiaries Latvijas elektriskie tīkli AS (lease of transmission system assets), Sadales tīkls AS (electricity distribution), Elektrum Eesti OÜ (electricity  supply in Estonia), Elektrum Lietuva UAB (electricity supply in Lithuania), Enerģijas publiskais tirgotājs AS (administration of electricity mandatory procurement process) and Liepājas enerģija SIA (electricity and thermal energy generation and supply).


News Article | May 11, 2017
Site: globenewswire.com

Riga, 2017-05-11 07:54 CEST (GLOBE NEWSWIRE) -- The Annual Shareholders’ Meeting of Latvenergo AS was held on 10 May 2017 at 15:00 at the premises of Latvenergo AS at 12 Pulkveža Brieža Street, Riga. The resolutions adopted at the Annual Shareholders’ Meeting: 1.    To approve „Latvenergo konsolidētais 2016.gada pārskats”, financial statements are prepared in accordance with the International Financial Reporting Standards as adopted by the European Union; 2.      To approve „Latvenergo Consolidated Annual Report 2016”, financial statements are prepared in accordance with the International Financial Reporting Standards as adopted by the European Union; 3.      To approve “AS “Latvenergo” 2016.gada pārskats”, financial statements are prepared in accordance with the International Financial Reporting Standards as adopted by the European Union; 4.      To approve “Latvenergo AS Annual Report 2016”, financial statements are prepared in accordance with the International Financial Reporting Standards as adopted by the European Union; 5.1. To approve the distribution of Latvenergo AS profit for the year 2016 of EUR 137,440,872 as follows: 1)   EUR 73,021,305 to pay out to the state in dividends; 2)   EUR 64,419,567 to retain and transfer to Latvenergo AS reserves with a purpose to decide on their pay-out to the state in dividends, by adopting such decision along with decision on distribution of Latvenergo AS profit for the year 2017; 5.2. To pay out in dividends EUR 17,120,530, which have been transferred from Latvenergo AS profit for the year 2015 to Latvenergo AS reserves with a purpose to decide on their pay-out in dividends, by adopting such decision along with a decision on distribution of Latvenergo AS profit for the year 2016; 6.      To appoint ERNST & YOUNG BALTIC SIA to conduct the audit of Latvenergo AS for the year 2017, determining a remuneration of the auditor up to EUR 37,768 excl. VAT. Latvenergo Group is a pan-Baltic energy company, engaging in electricity and thermal energy generation and supply, electricity distribution services and management of transmission system assets. Latvenergo Group holds one-third of the entire Baltic electricity market, thus ensuring its leadership in the Baltic electricity supply. Latvenergo AS has been acknowledged as the most valuable company in Latvia for several years in a row. International credit rating agency Moody’s has assigned Latvenergo AS an investment-grade credit rating of Baa2/stable. Latvenergo Group includes the parent company Latvenergo AS (electricity and thermal energy generation and supply) and its subsidiaries Latvijas elektriskie tīkli AS (lease of transmission system assets), Sadales tīkls AS (electricity distribution), Elektrum Eesti OÜ (electricity  supply in Estonia), Elektrum Lietuva UAB (electricity supply in Lithuania), Enerģijas publiskais tirgotājs AS (administration of electricity mandatory procurement process) and Liepājas enerģija SIA (electricity and thermal energy generation and supply).


Riga, 2017-05-25 15:00 CEST (GLOBE NEWSWIRE) -- The Ministry of Economics of the Republic of Latvia has prepared a conceptual report project "Complex Measures for the Development of the Electricity Market", on which information was given at the press conference today at 10 am at the Ministry of Economics of the Republic of Latvia. The conceptual report project contains several options to maintain the mandatory procurement components at the current amount, including prolongation of the subsidized electricity tax till 31 December 2020 and a partial future state contribution repurchase regarding cogeneration power plants with installed capacity above 4 MW, who will apply for the repurchase procedure. According to an international independent third-party assessment, the Group's capital structure is better than in other companies in the industry in the region and Group’s financial situation is stable enough to consider the implementation of any measures included in the solutions proposed. The implementation of the proposed solution will depend on further decisions made by the Cabinet of the Republic of Latvia. Latvenergo Group is a pan-Baltic energy company, engaging in electricity and thermal energy generation and supply, electricity distribution services and management of transmission system assets. Latvenergo Group holds one-third of the entire Baltic electricity market, thus ensuring its leadership in the Baltic electricity supply. Latvenergo AS has been acknowledged as the most valuable company in Latvia for several years in a row. International credit rating agency Moody’s has assigned Latvenergo AS an investment-grade credit rating of Baa2/stable. Latvenergo Group includes the parent company Latvenergo AS (electricity and thermal energy generation and supply) and its subsidiaries Latvijas elektriskie tīkli AS (lease of transmission system assets), Sadales tīkls AS (electricity distribution), Elektrum Eesti OÜ (electricity  supply in Estonia), Elektrum Lietuva UAB (electricity supply in Lithuania), Enerģijas publiskais tirgotājs AS (administration of electricity mandatory procurement process) and Liepājas enerģija SIA (electricity and thermal energy generation and supply).


Riga, 2017-05-25 15:00 CEST (GLOBE NEWSWIRE) -- The Ministry of Economics of the Republic of Latvia has prepared a conceptual report project "Complex Measures for the Development of the Electricity Market", on which information was given at the press conference today at 10 am at the Ministry of Economics of the Republic of Latvia. The conceptual report project contains several options to maintain the mandatory procurement components at the current amount, including prolongation of the subsidized electricity tax till 31 December 2020 and a partial future state contribution repurchase regarding cogeneration power plants with installed capacity above 4 MW, who will apply for the repurchase procedure. According to an international independent third-party assessment, the Group's capital structure is better than in other companies in the industry in the region and Group’s financial situation is stable enough to consider the implementation of any measures included in the solutions proposed. The implementation of the proposed solution will depend on further decisions made by the Cabinet of the Republic of Latvia. Latvenergo Group is a pan-Baltic energy company, engaging in electricity and thermal energy generation and supply, electricity distribution services and management of transmission system assets. Latvenergo Group holds one-third of the entire Baltic electricity market, thus ensuring its leadership in the Baltic electricity supply. Latvenergo AS has been acknowledged as the most valuable company in Latvia for several years in a row. International credit rating agency Moody’s has assigned Latvenergo AS an investment-grade credit rating of Baa2/stable. Latvenergo Group includes the parent company Latvenergo AS (electricity and thermal energy generation and supply) and its subsidiaries Latvijas elektriskie tīkli AS (lease of transmission system assets), Sadales tīkls AS (electricity distribution), Elektrum Eesti OÜ (electricity  supply in Estonia), Elektrum Lietuva UAB (electricity supply in Lithuania), Enerģijas publiskais tirgotājs AS (administration of electricity mandatory procurement process) and Liepājas enerģija SIA (electricity and thermal energy generation and supply).


News Article | February 16, 2017
Site: globenewswire.com

Riga, 2017-02-16 14:56 CET (GLOBE NEWSWIRE) -- By affirming the credit rating of Latvenergo AS, Baa2, stable, as strong points of Latvenergo Group the international credit rating agency Moody’s emphasises its cost competitive and environmentally clean hydro generation asset base, contribution from regulated distribution and transmission segment operations and strong financial profile. The international credit rating agency Moody’s foresees that in the context of the further evolvement  and development of Latvia electricity market, the company will be able to maintain its financial profile in line with the current rating. The received credit rating is one of proofs on Group's successful operation that is granted by an international organization. Last year, Moody's assigned the highest rating to green bonds issued by Latvenergo, while this year Nasdaq granted the award for the best investor relations in the Baltics. Latvenergo Group is a pan-Baltic energy company, engaging in electricity and thermal energy generation and supply, electricity distribution services and lease of transmission system assets. Latvenergo Group holds one-third of the entire Baltic electricity market, thus ensuring its leadership in the Baltic electricity supply. Latvenergo AS has been acknowledged as the most valuable company in Latvia for several years in a row. International credit rating agency Moody’s has assigned Latvenergo AS an investment-grade credit rating of Baa2/stable. Latvenergo Group includes the parent company Latvenergo AS (electricity and thermal energy generation and supply) and its subsidiaries Latvijas elektriskie tīkli AS (lease of transmission system assets), Sadales tīkls AS (electricity distribution), Elektrum Eesti OÜ (electricity  supply in Estonia), Elektrum Lietuva UAB (electricity supply in Lithuania), Enerģijas publiskais tirgotājs AS (administration of electricity mandatory procurement process) and Liepājas enerģija SIA (electricity and thermal energy generation and supply).


News Article | February 16, 2017
Site: globenewswire.com

Riga, 2017-02-16 14:56 CET (GLOBE NEWSWIRE) -- By affirming the credit rating of Latvenergo AS, Baa2, stable, as strong points of Latvenergo Group the international credit rating agency Moody’s emphasises its cost competitive and environmentally clean hydro generation asset base, contribution from regulated distribution and transmission segment operations and strong financial profile. The international credit rating agency Moody’s foresees that in the context of the further evolvement  and development of Latvia electricity market, the company will be able to maintain its financial profile in line with the current rating. The received credit rating is one of proofs on Group's successful operation that is granted by an international organization. Last year, Moody's assigned the highest rating to green bonds issued by Latvenergo, while this year Nasdaq granted the award for the best investor relations in the Baltics. Latvenergo Group is a pan-Baltic energy company, engaging in electricity and thermal energy generation and supply, electricity distribution services and lease of transmission system assets. Latvenergo Group holds one-third of the entire Baltic electricity market, thus ensuring its leadership in the Baltic electricity supply. Latvenergo AS has been acknowledged as the most valuable company in Latvia for several years in a row. International credit rating agency Moody’s has assigned Latvenergo AS an investment-grade credit rating of Baa2/stable. Latvenergo Group includes the parent company Latvenergo AS (electricity and thermal energy generation and supply) and its subsidiaries Latvijas elektriskie tīkli AS (lease of transmission system assets), Sadales tīkls AS (electricity distribution), Elektrum Eesti OÜ (electricity  supply in Estonia), Elektrum Lietuva UAB (electricity supply in Lithuania), Enerģijas publiskais tirgotājs AS (administration of electricity mandatory procurement process) and Liepājas enerģija SIA (electricity and thermal energy generation and supply).


News Article | February 28, 2017
Site: globenewswire.com

A significant role in maintaining the leading position of Latvenergo Group is played by skilful operation in a new electricity market situation, which was influenced by several factors in the previous year. Firstly, two new electricity transmission interconnections – NordBalt and LitPol were launched, which contributed to increase of liquidity in the market, as well as price convergence among Nordic countries and the Baltics. For the first time, there was a situation, when the electricity price in Latvia during some weeks was lower than in Estonia, which has previously offered electricity for a lower price. Secondly, the decrease of natural gas prices in Latvia increased generation of competitive electricity at Riga CHPPs. At the same time, this precluded the electricity price increase risk in the region during interruption periods in the operation of interconnections, as well as at times when there were fluctuations in generation supply and demand in the neighbouring countries. In 2016, Latvenergo Group has generated by 21% more electricity than in the previous year or 4,707 GWh and by 11% more thermal energy or 2,675 GWh at its generation facilities. The largest increase in the amount of generated electricity is observed at Daugava HPPs cascade. Compared to the previous year, it has increased by 36% and is 2,449 GWh. It was facilitated by higher water inflow in the Daugava River in the second part of 2016. Whereas the electricity generation at Riga CHPPs has increased by 9%, reaching 2,206 GWh in 2016. Favourable conditions for electricity generation at Riga CHPPs were created by decrease of average price of natural gas by 24%, compared to 2015. Due to optimal mix of Latvenergo Group’s generation at Riga CHPPs and Daugava HPPs and the opportunities to import, consumers in the Baltic States benefit from both the price convergence to the Nordic price level and the price stability on the long-term. In 2016, Latvenergo Group has retained its electricity supply leading position in the Baltics with the market share of approximately 30%. The overall amount of retail electricity trade outside Latvia accounts for almost 1/3 of the total, reaching 2,376 GWh. This is 20% more than the supply volume of competing electricity suppliers in Latvia. We have supplied in total 7,580 GWh of electricity to retail customers in the Baltics, 5,204 GWh of which in Latvia, in Lithuania – 1,464 GWh and in Estonia – 912 GWh.  The customer portfolio of Latvenergo Group in the Baltics has remained stable. The total number of customers outside Latvia is approximately 35 thousand. Latvenergo Group revenue did not change significantly in 2016 and constitutes 931.6 million euros. EBITDA of Latvenergo Group has increased by 28% in the reporting period and constitutes 393.2 million euros. In turn, the profit of the Group constitutes 129.8 million euros in 2016. The results were positively influenced mainly by generation increase in Daugava HPPs by 36%, as well as lower prices of natural gas and electricity in Latvia. Compared to the previous year, the price of natural gas was by 24% lower and the electricity price – by 14% lower in Latvia. The return on equity of the Group has increased to 5.8%, whereas in the previous year it was 4.1%. Latvenergo Group is one of the largest taxpayers in Latvia. The Group has paid 209 million euros in the state budget in 2016, including more than 77 million euros paid in the budget as dividends for the use of state capital. According to the Law “On the State Budget for 2017”, the estimated amount of dividends payable by Latvenergo AS for 2016 is 90.1 million euros. In 2016, the total amount of investments constitutes 200.7 million euros, which is by 5% more compared to the previous year. The majority or 64% were invested in network assets, thereby improving the quality of their service, technical indicators and operational safety in a targeted manner. 35.2 million euros were invested in the extensive reconstruction of Daugava HPPs in this year. Gradual replacement of 11 non-reconstructed hydropower units is planned until 2022, ensuring their operation for the next 40 years. The total costs of reconstruction will exceed 200 million euros, 86.7 million euros of which are already invested. Also the major electricity transmission infrastructure improvement investment projects are continued: Kurzeme Ring and the Estonia–Latvia third power transmission network interconnection. Latvenergo Group finances its investments from its own resources and external long-term borrowed funds, which are regularly and timely sourced in financial and capital markets. In April 2016, Latvenergo AS successfully completed the green bond offering programme in the amount of 100 million euros. In October 2016, Moody's assigned the highest rating to the green bonds. Approximately 1/4 of the Group's total borrowings is constituted by bonds. After the end of the reporting period on 16 February 2017, Moody's re-affirmed the Baa2 credit rating of Latvenergo AS with a stable outlook. The Supervisory Board of Latvenergo AS was elected at the Shareholders' Meeting of Latvenergo AS on 16 December 2016. The term of office of the Supervisory Board is five years. The Supervisory Board is composed by five independent Members – Andris Ozoliņš, Andris Liepiņš, Baiba Anda Rubesa, Mārtiņš Bičevskis and Martin Sedlacky. A medium-term operational strategy 2017–2022 of Latvenergo Group was approved in the Shareholders' Meeting of 19 October 2016. Taking into consideration the expected challenges in the sector and business environment, three main operational goals are defined in the strategy: ·         strengthening of sustainable and economically sound market position in core markets (in the Baltics), meanwhile considering a geographic and / or product / service expansion; ·         development of generation portfolio that fosters synergy with trade and that promotes value increase of the Group; 1) EBITDA: earnings before interest, corporate income tax, share of profit or loss of associates, depreciation and amortization, and impairment of intangible and fixed assets 2) Net debt: borrowings at the end of the period minus cash and cash equivalents at the end of the period 3) Net debt/EBITDA: ((net debt at the beginning of 12 months period + net debt at the end of 12 months period) * 0.5) / EBITDA (12-months rolling) 5) Return on equity: net profit (12-months rolling) / average value of equity * 100% 6) Return on assets: net profit (12-months rolling) / average value of assets * 100% 7) Return on capital employed: operating profit of 12 months period / (average value of equity + average value of borrowings) * 100% 8) Net debt/equity: net debt at the end of the reporting period / equity at the end of the reporting period * 100% Latvenergo Group is a pan-Baltic energy company, engaging in electricity and thermal energy generation and supply, electricity distribution services and lease of transmission system assets. Latvenergo Group holds one-third of the entire Baltic electricity market, thus ensuring its leadership in the Baltic electricity supply. Latvenergo AS has been acknowledged as the most valuable company in Latvia for several years in a row. International credit rating agency Moody’s has assigned Latvenergo AS an investment-grade credit rating of Baa2/stable. Latvenergo Group includes the parent company Latvenergo AS (electricity and thermal energy generation and supply) and its subsidiaries Latvijas elektriskie tīkli AS (lease of transmission system assets), Sadales tīkls AS (electricity distribution), Elektrum Eesti OÜ (electricity  supply in Estonia), Elektrum Lietuva UAB (electricity supply in Lithuania), Enerģijas publiskais tirgotājs AS (administration of electricity mandatory procurement process) and Liepājas enerģija SIA (electricity and thermal energy generation and supply).


News Article | December 20, 2016
Site: globenewswire.com

Riga, 2016-12-20 15:04 CET (GLOBE NEWSWIRE) -- On 19 December this year the increase of Latvenergo AS share capital by EUR 183,895 was registered with the Commercial Register of the Register of Enterprises of the Republic of Latvia. Share capital of Latvenergo AS is increased by paying for the new shares with property investment owned by the state for the total value of EUR 183,895; thus the share capital of Latvenergo AS reaches EUR 1,288,714,992. In the share capital was invested 103 land parcels and an undivided share of 1 land parcel, 17 buildings, including electric appliances in three of them, with a total land area of 1.882 ha that was state capital properties already used by Latvenergo AS. Latvenergo Group is a pan-Baltic energy company, engaging in electricity and thermal energy generation and supply, electricity distribution services and lease of transmission system assets. Latvenergo Group holds one-third of the entire Baltic electricity market, thus ensuring its leadership in the Baltic electricity supply. Latvenergo AS has been acknowledged as the most valuable company in Latvia for several years in a row. International credit rating agency Moody’s has assigned Latvenergo AS an investment-grade credit rating of Baa2/stable. Latvenergo Group includes the parent company Latvenergo AS (electricity and thermal energy generation and supply) and its subsidiaries Latvijas elektriskie tīkli AS (lease of transmission system assets), Sadales tīkls AS (electricity distribution), Elektrum Eesti OÜ (electricity  supply in Estonia), Elektrum Lietuva UAB (electricity supply in Lithuania), Enerģijas publiskais tirgotājs AS (administration of electricity mandatory procurement process) and Liepājas enerģija SIA (electricity and thermal energy generation and supply).


News Article | February 28, 2017
Site: globenewswire.com

Riga, 2017-02-28 15:05 CET (GLOBE NEWSWIRE) -- AS Latvenergo invites bondholders, investors, mass media representatives and other stakeholders to join its investor conference webinar scheduled on March 9, 2017 at 16:00 (EET). To join the webinar please follow the instructions below. Webinar will be hosted by Guntars Baļčūns, AS Latvenergo Chief Financial Officer. The presentation will be held in English. During the webinar Guntars Baļčūns will analyze Latvenergo Group financial results of 2016 and inform about current issues in the Group. After the presentation investors are welcome to ask questions. Due to the limited webinar time, please send in your questions in advance until March 8 to e-mail: eva.dzerve@nasdaq.com. What is webinar? Webinar is a virtual conference, during which company’s representative gives information about the company, its activities and future plans. Webinar allows interactive communication and provides an opportunity to ask questions and get answers directly from the company. How to join the webinar? All you need is a computer with internet connection and headphones. To join the webinar, we invite you to register via http://ej.uz/Latvenergo_YE2016. You will be provided with the webinar link and instructions to join webinar successfully. When joining the webinar for the first time, you will be asked to download the system application on your computer which will take only few seconds. For more information on webinar service please visit: http://www.nasdaqbaltic.com/en/products-services/webinars-3/ Latvenergo Group is a pan-Baltic energy company, engaging in electricity and thermal energy generation and supply, electricity distribution services and lease of transmission system assets. Latvenergo Group holds one-third of the entire Baltic electricity market, thus ensuring its leadership in the Baltic electricity supply. Latvenergo AS has been acknowledged as the most valuable company in Latvia for several years in a row. International credit rating agency Moody’s has assigned Latvenergo AS an investment-grade credit rating of Baa2/stable. Latvenergo Group includes the parent company Latvenergo AS (electricity and thermal energy generation and supply) and its subsidiaries Latvijas elektriskie tīkli AS (lease of transmission system assets), Sadales tīkls AS (electricity distribution), Elektrum Eesti OÜ (electricity supply in Estonia), Elektrum Lietuva UAB (electricity supply in Lithuania), Enerģijas publiskais tirgotājs AS (administration of electricity mandatory procurement process) and Liepājas enerģija SIA (electricity and thermal energy generation and supply).


Riga, 2016-11-30 15:10 CET (GLOBE NEWSWIRE) -- AS Latvenergo invites bondholders, investors, mass media representatives and other stakeholders to join its investor conference webinar scheduled on December 7, 2016 at 16:00 (EEST). Please note that attendees have to register for the webinar in advance – detailed information on the registration process is available below. Webinar will be hosted by Guntars Baļčūns, AS Latvenergo Chief Financial Officer. The presentation will be held in English. During the webinar Guntars Baļčūns will analyze Latvenergo Group financial results of 9 months 2016 and inform about current issues in the Group. Submission of questions After the presentation webinar participants are welcome to ask questions. Due to the limited webinar time, please send in your questions in advance till December 6 to e-mail: ieva.unda@nasdaq.com. Registration process To follow the webinar, you will need a computer with an internet connection and headphones. To join the webinar, you need to register in advance via http://ej.uz/Latvenergo_Q3_2016. You will be provided with the webinar link and instructions to join webinar successfully. When joining the webinar for the first time, you will be asked to download the system application on your computer which will take only few seconds. What is a corporate webinar? A corporate webinar is a virtual conference, during which a company’s representative provides information about the company, its activities and future plans. A webinar provides an opportunity to receive information directly from the company while being located anywhere, as well as to receive answers to questions of interest to you. For more information on webinar service please visit:  www.nasdaqbaltic.com/en/products-services/webinars-3/. Latvenergo Group is a pan-Baltic energy company, engaging in electricity and thermal energy generation and supply, electricity distribution services and lease of transmission system assets. Latvenergo Group holds one-third of the entire Baltic electricity market, thus ensuring its leadership in the Baltic electricity supply. Latvenergo AS has been acknowledged as the most valuable company in Latvia for several years in a row. International credit rating agency Moody’s has assigned Latvenergo AS an investment-grade credit rating of Baa2/stable. Latvenergo Group includes the parent company Latvenergo AS (electricity and thermal energy generation and supply) and its subsidiaries Latvijas elektriskie tīkli AS (lease of transmission system assets), Sadales tīkls AS (electricity distribution), Elektrum Eesti OÜ (electricity  supply in Estonia), Elektrum Lietuva UAB (electricity supply in Lithuania), Enerģijas publiskais tirgotājs AS (administration of electricity mandatory procurement process) and Liepājas enerģija SIA (electricity and thermal energy generation and supply).

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