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Latvenergo's thermal power plants generate by 5% more energy in 2019

LETA Latvian News Agency

RIGA, Jan 14 (LETA) - Latvenergo's thermal power plants (TEC) last year generated 2,780 GWh of electricity, which is by 5 percent more than in 2018, the company's representative Ivita Bidere reported.

In 2018, TEC-1 and TEC-2 power plants generated the largest amount of electricity after reconstruction, and the largest amount since 2002 - 2,644 GWh. Last year this historic record was beaten with 2,780 GWh.

Thermal power plants produced more than half of electricity generated in Latvenergo or 4,832 GWh.

Latvenerge expects that the company's thermal power plants in the future will become even more competitive.

Latvenergo power company posted EUR 435.199 million in audited turnover for 2018, down 12.7 percent from 2017, while the company's profit increased 41 percent to EUR 212.733 million, according to the company's statement to the Nasdaq Riga stock exchange. The group's revenue amounted to EUR 878 million, which is 5 percent less than in 2017. The group's profit for 2018 amounted to EUR 76 million.

Latvenergo is a state owned power utility engaged in electricity and heat generation and trade and natural gas trade.


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