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KEY DATA

KEY DATA. - GDP  2011 versus 2010 – increase by 5.5% Electricity final consumption: 2011 versus 2010 – decrease by 0.4% Gas consumption * 2010 versus 2009 – increase by 19.3% 2011 versus 2010 – decrease by 11.9% * impact of cold winter. Latest changes – L aw ’s.

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KEY DATA

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  1. KEY DATA - GDP  2011 versus 2010 – increase by 5.5% • Electricity finalconsumption: • 2011 versus 2010 – decrease by 0.4% • Gas consumption * • 2010 versus 2009 – increase by 19.3% • 2011 versus 2010 – decrease by 11.9% * impact of cold winter

  2. Latest changes – Law’s The Electricity Market Law was amended in July 2011; the Energy law was amended in October 2011 – amendments simplifies start up of trade and production activities in heat and electricity sectors • The licensing of power and heat generation and sales activities is substituted by registration • The registration took effect from January 1, 2012 • All companies, which held licenses prior to January 1, 2012 were registered automatically • The Regulator elaborated a document setting provisions to be fulfilled by applicants.

  3. Latest changes – legal acts • At the end of 2011, the Regulator adopted a set of new legal acts on: • 10 year development plans and planning procedure • TSO certification requirements and procedure • At the beginning of 2012: • The requirement to traders on disclosure of information in their bills issued to customers

  4. Regulatory independence • The law on Regulators of Public Utilities, which determines status of Regulator, has been amended to be fully in line with the requirements of the Third energy legislative package • After the Parliament adopted this law, it entered into force in August 11, 2011 • Some adjustments still to be done

  5. Market opening -1 • Market opening: • All customers are free to choose their supplier from 2007 • Real market opening took place in June 2007 when big consumers entered market. • From April 1, 2012 additional 5000 electricity customers became market participants. • Further market opening expected from November 1, 2012 and will reach ~ 75% of market (consumption)

  6. Market opening -2 • Practical arrangements: • The Regulator adopted standard agreements for licensees of distribution services in March 2012 • Revised standard contract for captive customers • Informative event for new market customers spring 2012 • Stake in Market board

  7. TSO unbundling/ certification • Latvia has chosen the unbundling model of independent system operator (IS0) • New company - owner of transmission assets - has been established in February 10, 2011. • The final decision about transfer of ownership rights of ISO - JSC “Augstsprieguma tīkls” - has been taken in January 2012. • At present the owner of ISO is the Ministry of Finance of Republic of Latvia. • In May 2012, ISO has submitted the application to Regulator for certification

  8. TSO certification/10 years plan • In August 2012, the Regulator has adopted TSO’s 10 Year Development plan with conditionality • Intensive process of consultations about certification were carried out during the summer: • ISO, LET, ministry, EC • The Regulator is in a position to finalize a draft opinion on certification and send it to the EC for feedback • Final decision still to be taken in autumn 2012 • ISO certification to be finalized at the end of 2012/ beginning 2013

  9. Tariff set up • From April 1, 2012 new transmission tariffs are in force with average increase of ~ 7,5% • Gas tariffs adjust in line with prices of oil/ oil products in the world markets • The set up of heat tariffs depends on the fluctuation of price of gas or wood chips • Energy arrears are becoming an important issue,particularlyin the heating sector

  10. Future activities and challenges • Follow up of the implementation of TSO’s 10 Year Development Plan • Finalize Certification of TSO • Opening of Nord Pool Spot price area in Latvia • Expected changes in the Grid Code as the outcome of ENTSO-E and ACER activities • A lack of clarity regarding the assessment of the EU energy projects of common interests

  11. THANK YOU FOR ATTENTION !

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