Turnover of Inter RAO Latvia grows twelvefold in 2021

• Published date: 27 July 2022
• Publication title: LETA

RIGA, July 27 (LETA) - Electricity supplier Inter RAO Latvia turned over EUR 193.47 million in 2021, which is 12.3 times more than a year before, while the company's profit expanded 90.5 times to EUR 8.28 million, according to information available at Firmas.lv.

The company's management said in the annual report that the turnover growth was achieved thanks to electricity import deals, started with Russia in November 2020.

Retail trade in electric power generated 2.3 percent and wholesale on Nord Pool ensured 97.7 percent of the company's total revenue.

This year, Inter RAO Latvia plans to maintain sales volumes both in retail and wholesale markets, as well as to work to attract new clients. In May 2022, Inter RAO Latvia announced that it was ending operations with the subsidiaries of Russia's Inter RAO as the Baltic states stopped buying Russian-generated electricity.

In 2020, Inter RAO Latvia made a profit of EUR 91,465 on a EUR 15.737 million turnover.

Inter RAO Latvia has been registered in 2010 and its share capital is EUR 2,828. The company's sole owner is Inter RAO Lietuva, the Lithuanian subsidary of Russia's...