RIGA - The Latvian Public Utility Regulatory Commission has authorized E.Energy, the Latvian subsidiary of Eesti Energia (Estonian Energy), to sell electricity on the Latvian market, as part of a drive to deregulate the energy market and drive down rising energy prices.
The license, granted on Sept. 27, is valid from Jan. 1, 2007 until Dec. 31, 2011. In the words of the regulator's spokeswoman Zanete Luse, the company must start selling electricity in Latvia by July 1, 2007.
Estonian Energy project manager Raul Kivari said that more detailed information about the subsidiary's plans for Latvia would be provided at some later time.
Eesti Energia is a state-owned company involved in the generation, sale and transmission of electricity and thermal power, according to information posted on the company's website. The main raw material for energy production - oil shale - is extracted from mines owned by the company. Eesti Energia is also involved in the construction and maintenance of energy systems.
According to the information of the Latvian business register, the Latvian subsidiary of Estonian Energy E.Energy was established in May of this year.
Estonian Energy is planning to sell electric power to 2 million clients across the Baltic region by 2015.