Energy will definitely remain expensive in the future, said governor of the Bank of Latvia Mārtiņš Kazāks in an interview to LTV programme Rīta panorāma on Tuesday, 5 July.
«There is no reason to keep glancing hopefully at the past – it will not come back, last year’s snow has already melted, so to speak,» said Kazāks in regards to the rise of energy prices.
He also mentioned that some residents in Latvia will require support in order to adapt to new energy prices.
«Support should be focused – for groups of residents who need it. At the same time, we cannot afford to support residents forever. With that said, we need structural, permanent, far-sighted changes in relation to how we use energy, our habits and what energy is used – gas, renewable resources – and where this energy comes from,» said Kazāks.
He also stressed that implementation of these changes should not be delayed.
At the same time, the governor of the Bank of Latvia adds that the government’s planned support principles are generally correct. «The principles on which the government bases this support are correct,» said Kazāks, adding that the energy price rise should not be compensated fully, so that it is possible to motivate residents to change their habits, considering that prices will remain high in the future.