Latvia’s transmission system operator AS Augstsprieguma tīkls (AST) invested EUR 24,43 million in the development of the electricity transmission grid in the first three months of 2026, strengthening the security of electricity supply and the availability of transmission services. Of this amount, EUR 14,99 million was invested in the development of new transmission grid connections for solar and wind power plants, financed by project developers, while EUR 2,61 million was invested in the reconstruction and renewal of substations and electricity transmission lines.

AST’s profit in the three-month period amounted to EUR 3,79 million. AST’s net turnover during the reporting period reached EUR 67,01 million, including EUR 24,39 million in revenue from electricity transmission grid services. At the same time, during this reporting period AST has succeeded in reducing the total transmission system service costs attributable to users. This was achieved by using accumulated congestion management revenues in the amount of EUR 4 million, generated from electricity price differences*. By the end of 2028, the Public Utilities Commission has allowed the use of accumulated congestion management revenues of up to EUR 44.4 million in total to cover transmission system service costs.

In the first quarter of 2026, the volume of electricity transmitted by AST increased by 11% compared to the corresponding period last year and reached 1,888 GWh.

This year, AST also continued work on developing new interconnections with neighbouring electricity transmission systems. During the reporting period, the environmental impact assessment for the construction of the new 330 kV Ventspils–Brocēni–Varduva transmission line continued, and the environmental impact assessment for the fourth Latvia–Estonia interconnection, to be developed as a subsea cable, was launched.

Interest in renewable energy generation remains high in Latvia in 2026. In the first quarter of 2026, in addition to projects already under development, five new connection agreements were signed: 160 MW of hybrid projects (solar power plants together with battery energy storage systems (BESS)), 225 MW of wind power plants, and 100 MW of stand-alone BESS. By the end of the reporting period (31 March 2026), the total capacity of renewable energy connections established to the transmission grid had already exceeded 1 GW (908 MW of solar power plants, 174 MW of wind power plants, and 109 MW of BESS, including AST’s batteries in Tume and Rēzekne). According to renewable energy developers’ plans, an additional 1,8 GW of new generation capacity is expected to be built by the end of 2026.

During the reporting period, revenue in the natural gas transmission segment of AST subsidiary AS Conexus Baltic Grid (Conexus) amounted to EUR 32,08 million, while profit before corporate income tax was EUR 11,23 million. The increase in profit in the first quarter of 2026, compared to the corresponding period of the previous year, was related to a 50% increase in natural gas transmission revenue as a result of higher natural gas consumption in Latvia. Revenue in the natural gas storage segment during the reporting period amounted to EUR 8,31 million, while profit before corporate income tax was EUR 3,42 million. During the reporting period, Conexus transmitted 11,1 TWh of natural gas (8,6 TWh in the first three months of 2025), while natural gas consumption in Latvia increased from 3,8 TWh in the first quarter of 2025 to 5,2 TWh this year.

The Augstsprieguma tīkls Group posted net turnover of EUR 100,85 million and net profit of EUR 18,44 million in the first three months of 2026. The AST Group consists of the parent company AST and its subsidiary Conexus, in which AST holds a 68,46% ownership stake. The AST Group’s core business is ensuring the functions of the electricity transmission system operator, efficient management of electricity transmission system assets, and natural gas transmission and storage.

The reports can be accessed on AST’s website.

* Congestion management revenues arise from electricity price differences on the power exchange between bidding zones and from auctions of Financial Transmission Rights (FTR options) for cross-border interconnection capacity.