"Rīgas siltums" to buy all heating energy via daily auctions
Starting the new heating season, Latvia's "Rīgas siltums" will purchase all the heating energy it needs through daily auctions, always choosing the lowest available market price. This was announced by the company's Strategic Communications head Ivo Valdovskis.
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Riga's heat utility company "Rīgas siltums" has changed its energy procurement approach — going forward, all the heating energy it needs will be bought through daily auctions, each time selecting the cheapest offer available on the market. The announcement was made by Ivo Valdovskis, head of the Strategic Communications department at AS "Rīgas siltums".
What is changing
Under the new system, the company aims to ensure that heating consumers in Riga receive energy at the most favorable price available at any given moment, as daily auctions allow it to respond quickly to market fluctuations. The new approach will take effect with the start of the upcoming heating season.
"Rīgas siltums" is one of the largest heating suppliers in Latvia, providing centralized heat supply to residents and businesses in Riga. The company has not yet provided further details on how the new procurement method might affect final tariffs for consumers.
