Name day: Simona, Apolonija

Lietuvas ener??tikas uz??mums "Ignitis Group", Arnas Strumila Today, 13:00 Business Authors: LSM English (Latvian Public Media) Ignitis Latvija, a subsidiary of Lithuanian energy company Ignitis, will start selling electricity to households in Latvia on Monday, the company has confirmed. It has already been servicing business clients since 2013. Ignitis will offer connections with various different tariffs to home owners.

Kristaps Muzikants, CEO of Ignitis Latvija, said that by starting to offer electricity to Latvian households, the goal is to challenge the private electricity market, which has "entrenched market conditions that are potentially disadvantageous to consumers and do not take into account different people's lifestyles."

"The goal of our personalized tariffs is to move the market towards a significantly more dynamic and individually tailored approach, which will provide Latvian residents with tangible savings, potentially up to one existing electricity bill per year," Muzikants said.

"Over time, we will see more and more smart, including artificial intelligence, solutions that will connect household appliances and manage electricity consumption in a way that is maximally beneficial and convenient," added the head of Ignitis Latvija.

According to the company, citing market data, out of almost 900,000 households in Latvia that have concluded electricity supply contracts, approximately 75% receive electricity at a fixed price, while 15% have chosen a variable exchange price and the remaining 10% use the universal electricity service, which also has a fixed price. Electricity market data shows that almost 20% of residents have changed suppliers in the last two years.

"Ignitis Latvija" has been providing solutions to business clients in Latvia since 2013.

Lursoft data shows that Ignitis Latvija had a turnover of 93.6 million euros in 2024, while the company's profit was 746,000 euros. The company is fully owned by Lithuanian Ignitis.

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