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- Format
- 3 files (PDF report, 2 Excel files)
- Pages
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35 (Report only)
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- Immediate by e-mail
- GENERAL OVERVIEW
- INSTITUTIONS AND ENERGY POLICY
- ENERGY COMPANIES
- ENERGY SUPPLY
- ENERGY PRICES
- ENERGY CONSUMPTION
- ISSUES AND PROSPECTS
- DATA TABLES
- ABBREVIATIONS
- GLOSSARY
Buy Latvia energy report
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After validation, you will immediately receive 3 files by email (one pdf report and 2 excel files containing the datasets).
Overview
This analysis includes a comprehensive Latvia energy market report and updated datasets. It is derived from the most recent key economic indicators, supply and demand factors, oil and gas pricing trends and major energy issues and developments surrounding the energy industry. The report provides a complete picture of the country situation, dynamics, current issues and future prospects. With market data and continuous follow-up of markets news, this report brings clear and concise insights with which to tackle national energy challenges and opportunities. Browse the tabs below for a detailed table of contents, the list of graphs and tables, and details on the data files.
Highlights
- Latvia targets a share of 50% of renewables in the final energy consumption in 2030.
- The power market is dominated by Latvenergo, a public utility.
- Gas transmission and storage operations were transferred to Conexus Grid following the unbundling of Latvijas Gaze.
- The country has a strong power interconnection with neighbouring countries.
- The share of hydropower in the power mix is fluctuating a lot (between 33% and 60% since 2010).
- Electricity and gas prices have surged since 2020.
- They are significantly lower than the EU averages for households.
- The energy intensity has been declining rapidly since 2010 (-3%/year).
- Biomass is the first fuel in total energy consumption.
- The country is counting on the upgrade of its hydropower plants and on new electricity interconnections to boost its power supply.
- The capacity of the Inčukalns gas storage facility will be raised by 2025 and new gas pipelines will be built to Lithuania and Estonia.
Institutions & Energy Policy
The Ministry of Economics supervises the energy sector through the Sustainable Energy Policy Department, the Energy Market and Infrastructure Department, and the Energy Efficiency Department.
The Public Utilities Commission (PUC, or SPRK), an independent organism, regulates the energy sector, telecommunications, the post, and the railways.
Energy Companies
Gas:
Latvijas Gaze was unbundled in 2017: its transmission and storage operations were transferred to a new company named Conexus Baltic Grid, while gas distribution and sales operations were transferred to a new company called Gaso.
Energy Supply
Oil:
Latvia does not have a refinery. It imports all its refined products by rail and pipeline from the Lithuanian refinery of Mazeikiai, Russia and Finland. Oil product imports increased to 19% in 2022, after dipping by 7%/year between 2016 and 2021; imports in 2021 mainly came from Lithuania (50%), followed by Russia and Finland (both 20%).
Energy Prices
Electricity:
Electricity prices for industry and households increased by 43% to €14.9c/kWh and €26.3c/kWh, respectively, between 2020 and 2022. Electricity prices for industry have increased rapidly by 5.6%/year between 2010 and 2015. Electricity prices for households surged by more than 6%/year between 2010 and 2015 and declined by 2.2%/year between 2015 and 2020.
Energy Consumption
Energy consumption per capita is 2.4 toe, including 3 500 kWh of electricity, i.e. around 40% below the EU average (2022).
Graph: CONSUMPTION TRENDS BY ENERGY SOURCE (Mtoe)
Issues & Prospects
The Energy Strategy of the Energy Ministry forecasts that total energy consumption will increase by 3.7% between 2020 and 2030. By 2030, electricity consumption should grow by 24% (with wind accounting for nearly half of total electricity by 2030). Biomass consumption should increase to 30% of primary consumption in 2030 (target already achieved in 2019 with 37% of the primary consumption).
- GRAPH 1: CO2-energy emissions (MtCO2)
- GRAPH 2: Installed electric capacity by source (2022, %)
- GRAPH 3: Gross power production by source (TWh)
- GRAPH 4: Power generation by source (2022, %)
- GRAPH 5: Gasoline & diesel prices (€/l)
- GRAPH 6: Electricity prices for industry and households (€c/kWh)
- GRAPH 7: Gas prices for industry and households (€c/kWh GCV)
- GRAPH 8: Consumption trends by energy source (Mtoe)
- GRAPH 9: Total consumption market share by energy (2022 %)
- GRAPH 10: Final consumption market share by sector (2022 %)
- GRAPH 11: Oil consumption (Mt)
- GRAPH 12: Oil consumption breakdown by sector (2022, %)
- GRAPH 13: Electricity consumption (TWh)
- GRAPH 14: Electricity consumption breakdown by sector (2022, %)
- GRAPH 15: Natural gas consumption (bcm)
- GRAPH 16: Gas consumption breakdown by sector (2022, %)
- GRAPH 17: Coal consumption (Mt)
- GRAPH 18: Coal consumption breakdown by sector (2022, %)
- Economic Indicators: Annual historical data including population, GDP growth, imports and exports, inflation rate, energy security and efficiency indicators, CO2 emissions.
- Supply Indicators: Historical data including oil and gas reserves, electric and refining capacity, energy production, power production and external trade. All are detailed by energy source.
- Demand Indicators: Historical data including consumption per inhabitant, consumption trends, total consumption by energy source, final consumption by energy source and sector, and electricity consumption by sector.
- Energy Balances: Single table displaying the overall energy industry balance per annum, also graphically displayed by energy sub-segment.
- Infrastructure Projects: Covers power plant projects by energy, technology, status and operator.
The Latvia energy market data since 1990 and up to
is included in the Excel file accompanying the Latvia country report.
It showcases the historical evolution, allowing users to easily work with the data.
Key Data included in the excelsheet:
- Economic indicators: Annual historical economic indicators, energy security, energy efficiency and CO2 emissions.
- Supply indicators: Annual historical reserves, capacity, production and external trade (imports(+) exports(-) balance).
- Demand indicators: Annual historical consumption per capita, consumption trends, total consumption, final consumption (per energy and per sector) and electricity consumption total and per sector.
- Energy Balance: total and per energy.
- Latvia Energy Prices: In addition to the analysis provided on the report we also provided a data set which includes historical details on the Latvia energy prices for the follow items: price of premium gasoline (taxes incl.), price of diesel (taxes incl.), price of electricity in industry (taxes incl.), price of electricity for households (taxes incl.), price of natural gas in industry (taxes incl.), prices of natural gas for households (taxes incl.), spot price of Brent and CO2 emissions (from fuel combustion).