The implementation of Latvia’s energy strategy must be aligned with the shared vision of the Baltic states regarding the future of the energy sector, believes President of Latvia Edgars Rinkēvičs.
As reported by the President’s advisor Mārtiņš Drēģeris, on Monday the third discussion on the long-term development of the energy sector took place at Riga Castle, initiated by Rinkēvičs. The discussion focused on the planning document prepared by the Ministry of Climate and Energy, outlining Latvia’s energy strategy until 2050.
The President expressed hope that, if not a perfect strategy, at least a sufficiently good one could be agreed upon to begin its implementation. He emphasized that strategies, plans, and documents should not be ends in themselves – they must lead to tangible outcomes: competitive, secure, and accessible regional energy resources that support development.
In his view, work on this must begin today. He therefore calls for active dialogue with municipalities and the allocation of time to inform the public. Rinkēvičs is convinced that time invested in addressing concerns and providing explanations will pay off in the long term.
During the discussion on the long-term development of the energy sector and policy in Latvia, comments on the draft strategy were provided by Minister of Economics Viktors Valainis (ZZS), members of the Saeima representing various factions, and industry experts.
As previously reported by LETA, the Ministry of Climate and Energy (MoCE), in collaboration with industry experts, prepared a draft of Latvia’s energy strategy last year.
The strategy outlines goals and priorities up to 2050 to adapt to rapid changes in the global energy sector and ensure a stable, secure, and sustainable energy supply in Latvia.
It states that the energy sector plays a vital role in Latvia’s economic development and competitiveness. Energy market fluctuations, supply chain disruptions, climate change, and geopolitical factors affect both the availability and cost of energy, further highlighting the importance of resource diversification.
The strategy notes that the energy sector contributes approximately 10% to Latvia’s gross domestic product (GDP) and encompasses a broad range of resources, including electricity, heat, and fuel. The sector is essential to the economy and public well-being – from industrial production to household energy needs.
The strategy includes various development scenarios that Latvia may face by 2050 – ranging from optimistic to pessimistic. These alternative scenarios offer flexibility to adapt to changes in both global and local conditions. This approach ensures the strategy’s adaptability to different development paths, enabling Latvia to be prepared for both opportunities and challenges in the future.
The scenarios are built based on global developments. In a favourable scenario, the country should seek to maximize opportunities. In a less favourable situation, the focus should be on helping society and businesses overcome difficulties – stabilizing the economy and ensuring energy security.
The baseline scenario offers a vision for potential energy sector development based on current trends. This scenario envisions a 2050 energy portfolio dominated by renewable resources.
It forecasts significant growth in biogas, wind, and solar energy, which will reduce reliance on fossil fuels. The gradual transition to renewables will contribute to a more environmentally friendly and secure energy supply, according to the MoCE.