RIGA- Telecommunications company Lattelecom is entering the electricity market with a new product called Tet, the company's representatives announced today.
Lattelecom will initially offer clients three products: Tet Dinamiskais (Tet Dynamic), Tet Drosais (Tet Safe), and Tet Fiksetais (Tet Flat), targeted at all households and companies in Latvia.
Lattelecom says that thanks to the new service, 95 percent of residents of Latvia could cut their monthly light bills.
The new products will be available as of today. Those who sign up by March 15 will begin to receive electricity from Lattelecom starting April 1.
Lattelecom wants 10,000 to 12,000 households to use Tet services by the end of the year.
According to Lattelecom, it is not aiming to take away a few clients from the other six to seven minor electricity suppliers in Latvia. The goal is to have more clients and take 10 percent of 20 percent market share, becoming a serious competitor to Latvenergo, said Tet manager Arturs Pielens-Palens.