Search

 

Cablegate: Latvia: Increase in Natural Gas Tariffs

VZCZCXRO1413
RR RUEHAG RUEHAST RUEHDA RUEHDF RUEHFL RUEHIK RUEHKW RUEHLA RUEHLN
RUEHLZ RUEHPOD RUEHROV RUEHSR RUEHVK RUEHYG
DE RUEHRA #0451 2141419
ZNR UUUUU ZZH
R 011419Z AUG 08
FM AMEMBASSY RIGA
TO RUEHC/SECSTATE WASHDC 5124
INFO RUEATRS/DEPT OF TREASURY WASHDC
RUCPDOC/DEPT OF COMMERCE WASHDC
RUEHZL/EUROPEAN POLITICAL COLLECTIVE

UNCLAS RIGA 000451

SIPDIS

E.O. 12958: N/A
TAGS: ECON EFIN ETRD LG

SUBJECT: LATVIA: INCREASE IN NATURAL GAS TARIFFS

1. On July 24, the Latvian State Public Utilities Commission
announced its decision on natural gas tariffs increases. Effective
October 1, natural gas tariffs will increase by an avaerage of 38%.
For households, the incease will be roughly 60% and for businesses
32-40%. A tariff increase was requested earlier this year by the
Latvia's central natural gas supplier Latvijas Gaze (LG), which
called for a 57-71% increase for households and 24-36% increase for
businesses. The Comission lowered various expense estimates
provided by LG by a total of LVL 14 million ($31 million USD) and,
therefore, adopted lower tariffs than requested.

2. Price inflation continues to grow as Latvia is moving towards
market-level enrgy prices. The latest rise in gas prices will have
both a direct and indirect effect on the consumer price index by
increasing heating, electritiy and overall production costs.
Inflation, which decreased by 0.2% points in June will likley jump
again in the fall, once the new tariffs go into effect.

© Scoop Media

 
 
 
World Headlines

 

University of Auckland: Low-Lying Pacific Island Has More Land Above Sea Level Than In 1943

An inhabited island in the low-lying Pacific nation of the Marshall Islands, which are thought to be at risk of being inundated by rising sea levels, has actually increased in size since 1943, scientists say. And the increase in area above sea level is likely ... More>>

APEC : Leaders Issue Kuala Lumpur Declaration

The leaders of the 21 APEC member economies issued the Kuala Lumpur Declaration following the first-ever virtual 27th APEC Economic Leaders’ Meeting chaired by Malaysian Prime Minister Muhyiddin Yassin. Convening for the first time since the ... More>>

OHCHR: UN Committee Issues Recommendations To Combat Racial Profiling

The Committee on the Elimination of Racial Discrimination today published its guidance to combat racial profiling, emphasizing, among other issues, the serious risk of algorithmic bias when artificial intelligence (AI) is used in law enforcement. The ... More>>

G20: Global Co-Operation And Strong Policy Action Needed For A Sustainable Recovery

The COVID-19 crisis has exposed major weaknesses in our economies that can only be fixed through greater global co-operation and strong, targeted policy action, according to a new OECD report presented to the Leaders of the G20 countries at their ... More>>