In order to reduce the impact of increase in the price of energy resources, the government has decided to compensate the increase in the price of natural gas not only for residents, but also for consumers in buildings where the contract with the natural gas trader is held by the building manager or another legal entity. The state aid can be received by the owner, manager, project developer of multi-apartment residential buildings, terraced houses, where natural gas is used by households within the framework of mutual contractual obligations.
Latvijas Gāze group reached historically strongest financial performance in the first quarter of 2022, which is attributable to disciplined trading and risk management strategy in 2021.
Colder temperature during heating season and significantly higher natural gas prices were the two main factors, which influenced the Latvijas Gāze performance in 2021. Colder temperature increased Latvijas Gāze sales and utilization of Gaso distribution network.
JSC Latvijas Gāze has concluded amendments to the existing overdraft agreement with OP Corporate Bank plc, Latvian branch.
In the wake of the energy crisis across Europe, the government has decided to compensate for the increase in the price of natural gas for citizens with annual natural gas consumption above 250 m3. Compensation will be applied for the period from January to the end of April 2022. Households do not need to apply for state aid; the reduced fee will be included in the billing documents automatically in accordance with the amount determined by the state.
The net turnover of the Group reached EUR 281.2 million in the nine months of 2021, which is 113 % more than in the corresponding period in 2020.