Riga, June 20 (LETA) - In autumn, the price for heating energy in Riga will increase by about 22 percent, Rigas Siltums heating utility informed LETA.

The company has calculated a draft of the new heating tariff and submitted it to the Public Utilities Commission (SPRK) for review. The draft tariff provides for changes in the costs of energy resources and purchased heating energy, however, it is not revised in full.

The draft heating tariff submitted is EUR 88.1 per megawatt-hour excluding value added tax, plus a contingency/revenue smoothing component of EUR 2.05 per megawatt-hour.

The current tariff is EUR 77.77 per megawatt-hour and customers were actually paying EUR 74.17 per megawatt-hour including the component. The new draft tariff will be EUR 88.1 per megawatt hour, but customers will have to pay EUR 2.05 per megawatt hour more, or EUR 90.15 per megawatt hour, taking into account the increase in natural gas prices over the last year.

The company thus estimated that the price increase for heating energy in the next heating season is around 22 percent.

During the cold winter months, the cost of a two-bedroom apartment in a renovated or new apartment building can rise by around EUR 10: from EUR 45 to EUR 55 per month, the company estimates. In an unrenovated building with high heating losses, costs can rise by around EUR 15 to EUR 20 - from EUR 70 to EUR 85-90 per month, depending on the condition of the building and the outside temperature.

Although it is difficult to predict the exact date, Rigas Siltums expects the new tariff to come into force in September this year, gradually with the start of the heating season.

As reported, the turnover of the Rigas Siltums municipal heating utility in the first half of the financial year from October 1, 2024, to March 31, 2025 was EUR 189.28 million, which is 12 percent less than in the corresponding period a year earlier, while the group's profit increased by 31.7 percent and reached EUR 33.38 million.

Rigas Siltums is one of the main suppliers of heat energy in Riga. The company's capital is 49 percent owned by the Riga City Council, 48.99 percent by the Latvian state, 2 percent by Energijas Risinajumi. RIX, and Latvenergo holds 0.005 percent of the shares.