RIGA, Sept 30 (LETA) - Balvu Energija district heating utility plans to increase its heating tariff by 72 percent as of February 11, 2023, the company informed the Public Utilities Commission.

The heating tariff will therefore rise from EUR 51.51 per megawatt-hour (MWh) now to EUR 88.77 per MWh.

This because of a significant increase in the prices of energy resources, the company explains.

Last year, Balvu Energija posted EUR 1.58 million in turnover and approximately EUR 75,000 in profit, according to Firmas.lv. Balvi Region Council is the majority shareholder in Balvu Energija.