Published: 2015-09-16 15:40:45 CEST
Latvijas Gāze
Company Announcement

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

At the meeting of the Cabinet of Ministers of the Republic of Latvia held on September 15 it was decided to accept and pass to the Parliament for review 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 April 3, 2017, with the inclusion of all assets and human resources required for the provision of services in the transmission and storage operator’s company. Furthermore, the controlling shareholders of both companies are to become unbundled till December 31, 2017, with the state having preemptive rights on the shares and assets of the transmission and storage operator.

The draft law also foresees a legal unbundling of the distribution operator from the trading entity till January 1, 2018.

Having regard of the objections of the JSC “Latvijas Gāze”, the form of unbundling of the unified transmission and storage operator and of the distribution operator is left at the discretion of shareholders.  

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 further objections and suggestions regarding the draft law to the Parliament.

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

http://tap.mk.gov.lv/lv/mk/tap/?pid=40358163&mode=mk&date=2015-09-15

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