Augstsprieguma Tīkls AS (AST) is an independent electricity transmission state system operator in Latvia. It operates power systems with voltages of 110 kV and above, which is leased from Latvenergo. It is also the main shareholder of Conexus Baltic Grid, a unified natural gas transmission and storage operator in Latvia.
 | |
| Company type | State-owned company |
|---|---|
| Industry | Electricity |
| Founded | October 15, 1939 |
| Headquarters | , |
Area served | Latvia |
Key people | Varis Boks (CEO) |
| Services | Electric power transmission |
| Revenue | €185.77 million (2019) |
| €4.47 million (2019) | |
| Total assets | 1,022,758,598 Euro (2023)  |
| Owner | Ministry of Finance of Latvia |
Number of employees | 548 (January 2020) |
| Subsidiaries | Conexus Baltic Grid |
| Website | www |
History
editOn 15 October 1939 the Ķegums power plant and the first substation in Riga start operation. This day is considered as the beginning of AST.[1]
AST was a part of Latvenergo. On 2 January 2012, it was unbundled from Latvenergo and the Ministry of Finance of Latvia became the sole shareholder of AST.[1]
In December 2017, AST bought from Uniper Ruhrgas International and Itera Latvija 18.31% and 16.05% stakes in Conexus Baltic Grid, a natural gas transmission system operator in Latvia, for €57.394 million.[2][3]
Operations
editAST operates Latvian power systems with voltages of 110 kV and above, which is leased from Latvenergo.[4] Its overall strategic goal is to ensure the security of electricity supply of Latvia, to provide a continuous electricity transmission service.[5]
Latvia and the Baltic states have historically operated in synch with the electric power systems of Russia and Belarus BRELL (Belarus, Russia, Estonia, Latvia, Lithuania). The origins of the idea to synchronise with the European grid go back as far as 2007, when the prime ministers of the Baltic states proposed the idea of investigating this possibility. The synchronisation of the Baltics with the European electric power networks is planned for 2025.[6]
AST plans to invest €445 million in the Latvian power transmission system in 2018–2027.[7] In 2018, it invests €89.05 million, of which €62.1 million will be spent on implementation of the third stage in construction of the Kurzeme Ring power transmission line and €4.25 million in construction of the third power interconnection between Estonia and Latvia.[8]
Corporate issues
editIn 2017, the company had a turnover of €158.86 million and a profit of €309,244.[9] In August 2018, the share capital of the company was increased up to €63,139,313 by converting the loan of €57.394 million for purchasing share in Conexus Baltic Grid into the share capital.[10]
AST reached 4.7 million euros[clarification needed] in 2018, of which 3.6 million will be paid as dividends to the state; the remaining amount will be invested in the fixed assetsfor implementing development projects. The turnover of AST during the reporting year was 194 million euros, which is 35 million euros more than the year before. Income from electric power transmission network services amounted to 72.6 million euros, or 37% of turnover.[11]
References
edit- ^ a b "History". Augstsprieguma tikls. Retrieved 2013-04-05.
- ^ LETA (2018-03-05). "State paid €57 million for Conexus shares". eng.lsm.lv. Retrieved 2022-01-23.
- ^ "Augstsprieguma Tikls acquires shares in Conexus Baltic Grid from Itera Latvija". LETA. 2017-12-27. Retrieved 2018-03-28.
- ^ "Abou us". Augstsprieguma tīkls. Retrieved 2018-08-10.
- ^ Augstsprieguma tīkls Separate Annual Report 2018
- ^ "Synchronisation with Europe". Augstsprieguma tīkls. Retrieved 2020-03-31.
- ^ "Power transmission system's development plan for 2018–2027 approved in Latvia". The Baltic Course. 2017-09-12. Retrieved 2018-08-11.
- ^ "Latvian power grid operator Augstsprieguma Tikls to invest EUR 89.05 million in development this year". Energy Central. LETA. 2018-05-23. Retrieved 2018-08-11.
- ^ "Regulators bažīgs par 'Augstsprieguma tīkla' spēju investēt atsevišķos infrastruktūras objektos" [The regulator is concerned about the ability of Augstsprieguma tīkl7 to invest in certain infrastructure objects]. Delfi. LETA. 2018-07-27. Retrieved 2018-08-11.
- ^ "'Augstsprieguma tīkls' palielina pamatkapitālu par 57,4 miljoniem eiro, lai atmaksātu aizdevumu" [Augstsprieguma tīkls boosts equity capital by 57.4 million euros to repay the loan]. Delfi. 2018-08-06. Retrieved 2018-08-11.
- ^ "AST to pay the state 3.6 million euros in dividends" (Press release). Augstsprieguma tīkls. 2019-05-31. Retrieved 2020-03-31.