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Minister: MPC cancellation would reduce electricity bills for residents by 10%

Photo: pixabay.com.
Cancellation of the mandatory procurement component would reduce electricity bills by 10% for Latvian residents, says Economy Minister Arvils Ašeradens.

He said he has presented a clear, competent and professional plan to abolish MPC system for residents and exclude the possibility of fraud from the side of businessmen.

The minister added – if colleagues have a competent action plan, they should submit it to the Cabinet of Ministers for review.

«In any case, I will not allow making MPC cancellation a political topic with no action behind it. The government intends to view Economy Ministry’s report on its work group’s proposals for MPC system’s cancellation next week. I expect strong support from coalition parties in favour of abolishing MPC,» said Ašeradens.

On 17 April, Latvia’s government decided to form a work group to research ways to abolish the mandatory procurement component system. Ašeradens is the leader of this group and Economy Ministry’s state secretary Ēriks Eglītis is his deputy.

The work group also includes representatives from ministries and state institutions, as well as experts from renewable energy resource industry and organizations like Latvian Employers’ Confederation, Latvian Chamber of Commerce and Industry, Foreign Investors Council and other partners of the government.

«Green certificates» would be compulsory for electricity traders to purchase from electricity producers that will continue participating in mandatory procurements in 2021. As a result, consumers would end up paying for «green energy» either way, as reported by Panorāma.

The work group was ordered to evaluate by 1 August the influence of MPC and subsidized electricity system’s on national economy. The work group was also ordered to prepare proposals for continued function of recipients of state support after cancellation of the system.


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