In this section, we summarise the most important information about electricity market trends and the factors influencing the price of electricity – in a simple and comprehensible manner.
The price of electricity depends on the selected product, consumption and type of connection. The total charge for electricity consists of both the price for the kilowatt-hours consumed and fixed costs; therefore, the price per 1 kWh cannot be calculated simply by dividing the monthly consumption by the total amount of the electricity bill.
The total fee for electricity is determined by the type of product selected. This determines:
- the price of electricity per kWh;
- for certain products – also a fixed monthly charge (Elektrum Izdevīgais, as well as products with Elektrum insurance);
The fee for transmission and distribution system services is made up of two parts:
- fee for electricity supply (price per kWh);
- fee for connection provision, i.e. for the current rating of the main circuit breaker (a fixed fee depending on the number of phases and the current rating of the main circuit breaker).
The fee for capacity components is made up of:
- capacity component (a fixed fee depending on the number of phases and the current rating of the main circuit breaker).
The electricity market for households means the opportunity to freely choose an electricity trader.
You may purchase electricity from the trader whose offer and terms best suit your needs.
The physical supply of electricity, regardless of the chosen trader, is ensured by the state-regulated transmission network operator – Sadales tīkls AS.
Elektrum mobile application is the most convenient place where you can keep track of current electricity exchange prices. There you can find prices by the hour, set your preferred price threshold and receive notifications when it is reached.
If you have chosen the Elektrum Dinamiskais product, we encourage you to adjust your consumption habits to times when the exchange price is lower — this allows you to manage your consumption more wisely and reduce your electricity expenses.
For up-to-date information on weekly electricity prices, consumption and generation in the Nord Pool Scandinavian and Baltic regions, as well as changes in these indicators compared to the previous week, please see on Latvenergo AS website.
The household electricity market is open, which means a wider choice for every customer. There are several electricity traders operating in the market, and offers often differ both in price and in terms and conditions. However, bold promises do not always mean the best choice.
When evaluating electricity offers, it is important to consider not only the price, but also the contract terms – fixed charges, contract duration, possible changes, and the convenience of the service. This helps to determine whether the offer will truly be advantageous in the long term and will not result in unpleasant surprises in the future.
Opportunity to reduce your electricity bill
We recommend assessing the energy efficiency of your home – often, with small changes in the use of electrical appliances, insulation or daily habits, it is possible to reduce energy consumption by up to 10%.
