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As switching electricity traders increases, the number of Enefit customers reaches 50,000 households

As switching electricity traders increases, the number of Enefit customers 
                                reaches 50,000 households

Due to the changing electricity market prices, the Latvian public has become increasingly interested in changing the electricity trader in recent months. Enefit, the second largest electricity trader in Latvia, increased the number of household customers by about 50% in the fourth quarter of last year, thus achieving significant growth in the private customer market, and is now providing electricity to 50,000 households.

The information gathered by AS Sadales tīkls shows that, at the end of 2021, the activity of switching electricity traders among the population increased by approximately 55%. Meanwhile, throughout the year, the number of users who switched traders in search of more favorable conditions for purchasing electricity increased by a quarter compared to 2020.

As observed by Enefit, in recent months, as a result of rising electricity prices, almost all of the company’s new customers opted for fixed-price products, preferring stability and predictable costs throughout the contract period. At the same time, there is a growing public interest in various additional energy products, as one in four Enefit customers also chose to insure electrical appliances or purchase Green Electricity, taking care to reduce the environmental impact on a daily basis.

Enefit Board member and Head of the Private Customer Sales Mārtiņš Vancāns explains that the rapid increase in the number of customers at the end of last year allowed the company to strengthen its position in the household segment: “The number of customers grew not only due to activity of the public in evaluating offers of alternative electricity traders, but also due to Enefit’s ability to compete by offering favorable prices and stable cooperation terms. The focus of our offer has always been on simple products that reduce the overall cost for households. We decided even before the electricity price spike that the prices of fixed-price contracts would not be revised. This step has strengthened our customers’ trust in us as a reliable long-term partner.”

At the same time, the company is experiencing a notable increase in the demand for solar energy solutions. The information provided by AS Sadales tīkls shows that 999 microgeneration solutions were installed in Latvia last year, which is twice as many as in 2020, and compared to 2019, the number has grown almost five times.

“People are looking for ways to reduce their rising electricity costs. Of course, consumption can only be optimized to a certain extent. So, in a way, the current market situation facilitates a search for more advanced energy solutions. This year, the government plans to introduce a support program for the public to purchase renewable energy production equipment, so we expect the interest in installing solar energy panels in homes to remain high throughout the year,” says Mārtiņš Vancāns.