According to Ričardas Degutis, Ambassador of the Republic of Lithuania in Latvia, having the Lithuanian company Energijos Tiekimas enter the Latvian market is not just a happy occasion, but also an economically beneficial step. “This supplier offered the best price, and the final details of the supply contract were agreed quickly. We do hope for a successful long-term cooperation,” said Degutis.
According to Neilas Tankevičius, the Lithuanian Ambassador in Estonia, the expansion of electricity suppliers into other Baltic markets marks a step towards full integration into the European Union market. “It is a great pleasure that we have finally been able to choose a Lithuanian capital electricity supplier in Estonia by the lowest price, the option of supplying electricity from renewable resources or by other criteria,” said Tankevičius.
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| Algirdas Juozaponis |
Algirdas Juozaponis, general manager of Energijos Tiekimas, stresses that in the early stages of operations in Estonia and Latvia, the company will be focussing on small and mid-sized customers and other companies operating in the Baltic States. “We have the ability to offer these companies the centralized purchase of electricity at attractive prices. Later on, the company plans to extend its offers to private customers,” said Juozaponis.
According to Juozaponis, operations in Latvia will not differ much from operations in Lithuania because the level of prices and market development in the neighbouring country is similar to that in Lithuania. While Estonian customers are much more aware of free market opportunities, Estonia also has a well-functioning data storage and information sharing system between market players. The system allows independent suppliers to put together commercial offers to customers that best meet their needs. Estonian consumers also have a better disposition towards pricing tied to electricity prices on the electricity exchange, and other more complex price packages.
All legal entities are free market participants in both Latvia and Estonia. In the latter, all household consumers are able to buy electricity on the free market starting from the beginning of this year. Latvia had hoped to fully liberalize its market by September 1st of this year, but the term was postponed indefinitely.
