Riga, 2018-07-06 13:03 CEST (GLOBE NEWSWIRE) -- Latvenergo AS has prepared and publishes an informative presentation about Latvenergo Group, providing current information about the organizational structure, corporate governance, strategy, operating segments and financial indicators of the Group.
2017 was one of the most successful years in the activities of Latvenergo Group in recent years. This was facilitated by the Group’s successful operations in favourable market conditions and the development of the energy sector. This was the year when Latvenergo’s plants generated one of the largest volumes of electricity, exporting part of the energy output. In order to use the Daugava resources more efficiently in the future, the Group continues the reconstruction of the Daugava HPP cascade. With the opening of the natural gas market, Latvenergo AS implemented one of its strategic goals by launching natural gas trade not only in Latvia but also in Estonia and Lithuania. Latvenergo Group has attested its importance for the national economy as a responsible electricity generator whose decisions have helped in reducing the amount of the mandatory procurement component.
The Group was recognised as the most valuable Baltic power company for the first time. The name of Latvia and Latvenergo was called when ringing the trading session opening bell at Nasdaq MarketSite in New York’s Times Square. The moment when both the logo of Latvenergo and the symbols of Latvia were displayed on the billboard of the exchange building was important for every resident of Latvia.
Presentation is available here .
Additional information: Jānis Irbe Group Treasurer Phone: +371 67 728 239 E-mail: investor.relations@latvenergo.lv
About Latvenergo
Latvenergo Group is one of the leading energy suppliers in the Baltics operating in electricity and thermal energy generation and trade, natural gas trade, electricity distribution services and lease of transmission system assets. Latvenergo AS has been acknowledged as the most valuable company in Latvia for several times. International credit rating agency Moody’s has assigned Latvenergo AS an investment-grade credit rating of Baa2/stable.
Latvenergo Group is comprised of the parent company Latvenergo AS (generation and trade of electricity and thermal energy, trade of natural gas) and seven subsidiaries - Latvijas elektriskie tīkli AS (lease of transmission system assets), Sadales tīkls AS (electricity distribution), Elektrum Eesti OÜ (trade of electricity and natural gas in Estonia), Elektrum Lietuva UAB (trade of electricity and natural gas in Lithuania), Enerģijas publiskais tirgotājs AS (administration of mandatory electricity procurement process) and Liepājas enerģija SIA (generation and trade of thermal energy in Liepaja, electricity generation). All shares of Latvenergo AS are owned by the state and held by the Ministry of Economics of the Republic of Latvia.
