Interim Report of the Commission was reviewed at the meeting, where Latvian energy sector was analysed and recommendations were provided for security of energy supply, sustainable development, and economic competitiveness.
Chairperson of the Commission Juris Ozoliņš emphasized during the meeting of Energy Security Committee that more extensive use of local resources was a cornerstone for future development of Latvian energy sector. Huge potential of local resource is notified in more efficient use of forest-based and wood processing industry residues; efficient management and use of wind and solar energy are very perspective. Respecting environmental and sustainability restrictions, as well as interests of regional development, peat might also be re-included into the energy balance.
“Latvian local energy resources at our disposal are already able to provide more than a half of domestic resource demand,” admitted the President of Latvia and he stressed that energy self-sufficiency, rational and ecologically balanced use thereof would be very important for strengthening energy security and long-term development of the industry.
Having assessed current legal framework of Latvian energy sector and law-making process, the Commission concluded that there was a lack of long-term strategy of the industry and significant structural improvements were required, because in-depth monitoring, impact assessment, and feedback to policy makers and legislators were often missing while implementing policies based on laws and regulations. The Commission thought that separate legal frameworks for natural gas, electricity, and heating should be also developed.
In its Interim Report, the Energy Safety Commission also offered a number of recommendations for promotion of national energy security and economic competitiveness. For example, development of new renewable energy law or evaluation of the CO2 in the framework of taxation reforms tax that would facilitate regulation thereof and would increase state revenues, and would reduce labour tax and other business burdensome duties.
At the end of the meeting, the President of Latvia welcomed the progress of the experts of the Energy Security Committee and called for drafting particular proposals and incentives to improve regulation of the energy sector by October.
The Energy Security Commission was established to provide support to the President of Latvia while assessing development of the current Latvian energy policy in order to strengthen the energy sector and to contribute to improvement of overall Latvian economic security.