Published: 2015-06-03 14:23:49 CEST
Latvijas Gāze
Company Announcement

Latvijas Gāze, JSC: Information on company’s unbundling and market liberalisation

The Meeting of State Secretaries of the Republic of Latvia to be held on June 4 has been submitted amendments to the Energy Law whereby a legal unbundling of the transmission and storage operator from the natural gas sale and distribution operator is to take place till January 1, 2017, with the inclusion of all assets and human resources required for the provision of services in the transmission and storage operator’s company and with a proportional interest of shareholders in the new company.

The draft law also foresees the unbundling of the controlling shareholders of both commercial companies till December 31, 2017 and state pre-emption rights on the transmission and storage operator.

Under the draft law, the Latvian natural gas market will be opened on April 3, 2017 enabling users to choose trader. Households will be given an option to remain a captive consumer and keep buying natural gas for the regulated tariffs.

The JSC Latvijas Gāze will submit its objections and suggestions regarding the draft law within two weeks.

A full text of the draft law in Latvian is available on the website of the Cabinet of Ministers:

http://tap.mk.gov.lv/mk/tap/?pid=40358163

         Vinsents Makaris
         Phone + (371) 67 369 144
         E-mail: IR@lg.lv