Latvia’s parliament, the Saeima, has approved amendments to partially compensate electricity distribution tariffs in 2023, LSM reports. The government will cover 60% of the fixed part of electricity distribution tariffs from September 2023 until the end of the year, reducing electricity bills by an average of 18%. The support measure will cost around EUR 30.5mn, which is to be covered with dividends from state-owned energy group Latvenergo. Janis Reirs, chairman of the parliamentary budget and finance committee, noted that distribution network operator Sadales Tikls purchases electricity from Latvenergo for EUR 140 per MWh, which is considerably more than the exchange price.
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