Minister of Economics Ilze Indriksone has called on the Competition Council (KP) to designate the wood fuel market segment as a priority area for market monitoring.

The Minister invites the KP to ensure the necessary market monitoring activities within the scope of its competence, in order to gain assurance that fair competition is being upheld in the activities of market participants.

“Taking into account the significant role and impact of rising energy prices on the national economy, the welfare of the population, and the tariffs for the upcoming heating season, it is currently critical to obtain timely assurance that no breaches of competition law are observed in the activities carried out by wood fuel market participants, and that a deliberate course of action by market participants has not contributed to a significant rise in energy prices in Latvia,” notes Indriksone.

The issue of wood fuel prices was also discussed at the most recent Energy Security Working Group, where it was agreed to invite the KP to conduct market monitoring. The Minister of Economics expects the KP to provide an opinion on the timeframes in which the assessment of the wood fuel market could be concluded.