Latvian company buys Estonian energy

  • 2008-07-22
  • By Mike Collier
RIGA - Valmieras stikla Å¡Ä·iedra, a major Latvian producer of fiberglass products, has stopped its electricity supply from national energy company Latvenergo and now receives all its electricity from Estonia's Eesti Energia, company statement has confirmed.

The switchover happened on July 1st.

"Co-operation with Latvenergo was discontinued because Eesti Energia offered lower eletricity prices," the statement reads. An agreement for one year has signed as a first step, after which Valmieras stikla Å¡Ä·iedra will have the option of signing up for a three-year fixed price contract.

As of April 1st, Latvenergo enforced new eletricity tariffs, resulting in an electricity bill 43% bigger than previously, Valmieras stikla Å¡Ä·iedra claims.