Latvenergo Group strategy for the next 6 years (2017–2022) focuses on further strengthening of Latvenergo Group positions in the Baltics, with possible development towards Nordic countries. Creation of new products and services plays a significant role in the achievement of these targets, promoting the interaction of generation and trading in line with the trends of the energy industry. Latvenergo Group Strategy 2017–2022 was approved by the Shareholders' Meeting on 19 October 2016.
Energy industry faces changes at both regional and global level, triggered by new technologies and user requirements. Therefore, energy companies extend and review the scope of their operations, offering new approaches and services, and acquiring new markets.
Changes in the industry are also relevant for Latvian national economy: new possibilities have been created by cross-border electricity interconnections, smart services are entering the day-to-day consumption, network digitalisation is ongoing, and new energy markets are opened. During the development of the next period strategy, account was taken not only of these, but also other factors affecting the Group's business environment at both national and international level.
Among the key strategic choices defined, priority is assigned to sustainable development in all areas of operation. This is justified by the goals reached during the previous strategy period and the evaluation of political, economic, social and technological factors. The sustainability position is complemented by new product and service offers in the existing market, and extension of operations outside the home market (under certain conditions). Operational goals of Latvenergo Group for 2017–2022 were set based on the above strategic choices.