Latvenergo is a state-owned electric utility company in Latvia. Latvenergo Group provides energy supply services in the Baltics.
The Group comprises the parent company Latvenergo AS, with decisive influence, and five subsidiaries. Latvenergo AS ensures generation and trade of electricity and thermal energy as well as trade of natural gas. Sadales tëkls AS ensures electricity distribution to each customer. Elektrum Eesti Oàand Elektrum Lietuva UAB conduct electricity trade in Estonia and Lithuania respectively. Enerãijas publiskais tirgotÃÂjs AS carries out administration of electricity mandatory procurement. ÃÂ
Latvenergo has four hydroelectric power plants: Püavià Âu HES, Rëgas HES, öeguma HES and Aiviekstes HES, with total installed capacity of 1535 MW, two combined heat and power plants with total electrical capacity of 474 MW and heat capacity of 1525 MW and a wind farm near Ainaà ¾i with installed capacity of 1.2 MW.
The company traces its origins to the establishment of the öegums HPP in 1939, when the State Electricity Company "öegums" was established on 22 December by a decision of the Cabinet of Ministers.
The current name was first used in the 1980s, but a similar name appeared as early as 1941, when private power plants and electricity grids were nationalised after the occupation of Latvia and the state energy authority "Latenergo" was established. During the Latvian SSR, several large power plants were built and the state energy industry was restructured several times. In 1989, Latvenergo, a production association subordinated to Latvian institutions, was established.
On 30 June 2021, the Estonian subsidiary Elektrum Eesti acquired several microgrid service companies (Energiaturu Võrguehitus OÃÂ, SNL Energia 1 Oàand Baltic Energy System OÃÂ) owning substations with their own customer base, managing 53 MW of electricity connections and transporting almost 80 GWh of electricity per year; the transaction was cleared by the Estonian Competition Authority on 3 August.
On 22 July 2022, the company Latvijas vÃÂja parki SIA was established together with JSC Latvijas valsts meà ¾i for the production of wind energy. Latvenergo acquired 80 % of the shares in the new company and Latvijas valsts meà ¾i 20 %. It is planned to install 100 to 120 wind generators in several large wind parks with a total capacity of around 800 MW, generating 2.4 TWh of electricity per year.