Eesti Energia started selling electricity to retail customers in Latvia

05.03.2019

Eesti Energia is now selling electricity to retail customers in Latvia, which is the fourth market for private customers besides Estonia, Finland, and Sweden.

Eesti Energia has been operating under the Enefit brand in the Latvian corporate market since 2006 and has achieved the second position in the corporate market selling both electricity and gas.

Jüri Teemant, Chief Customer Officer at Eesti Energia Group, said that Enefit is already known as a brand in Latvia and that the company is now taking a step further.

"Hundreds of contracts signed during a short test sale show that our offer is attractive and competitive. We are a serious alternative to Latvenergo currently dominating the market, which still has 92 percent of the market share of domestic customers," said Teemant.

"In the long perspective, our goal is to achieve a 10 percent market share and create real competition," added Teemant.

Most recent Norstat survey showed that a third of Latvian households are not satisfied with their current electricity seller and 45 percent consider switching their electricity seller once a year. Yet, only six percent of Latvian households are actually switching their electricity seller during the year, mainly due to the lack of good alternatives.

Enefit promises to offer its customers clear pricing that does not include any additional fees or hidden fines. Customers can choose between a fixed price package and a dynamic package with a stock market price.

In addition, Enefit is the first electricity seller in Latvia to offer green energy, solar panel installation and financing, electrical appliance insurance and a mobile application displaying consumption history to domestic customers.

"Our Estonian customers have already become accustomed to digitally running their electricity matters and using smart devices for this purpose. Now we also want to offer these effective solutions in Latvia," explained Jüri Teemant.

"Our competitive advantage in new home markets is also a digital platform that has been tried out in Estonia and can also be used in other countries where consumption data has been made available to service providers," he added.

Entering the Latvian domestic customer market is part of Eesti Energia's strategic goal to grow from the Baltic electricity seller to the Baltic Sea region's energy seller and energy service provider.

Currently, Eesti Energia operates as an energy seller in Estonia, Latvia, Lithuania, Poland, Finland, and Sweden.

Photo attached from the press event: Mārtiņš Vancāns, Enefit Latvia Household segment manager