SPRK does not oppose the electricity price comparison platform 0 7

The decision states that in mid-August of this year, SPRK received an application from the association regarding the compliance of the electricity price comparison tool available on the website "www.energija24.lv" with the minimum requirements set out in the SPRK regulation on the electricity price comparison tool, which came into effect in July of this year.

SPRK, having evaluated the application and the additional information provided, concluded that the comparison tool is independent of commercial enterprises engaged in electricity supply and does not represent the interests of any specific electricity trader, thereby ensuring equal treatment of electricity traders when comparing prices for electricity trading offers, including when displaying search results.

The comparison tool also includes clear and objective criteria on which the price comparison is based. At the same time, the comparison tool specifies information about the price of electricity per kilowatt-hour, as well as other costs that make up the total electricity charge and are included in the offers of electricity traders.

The regulator also concluded that the comparison tool provides information about the total expected payment for electricity for the billing period, as well as an explanation of the included prices, including in the case of volatile market prices, where the calculation of the used price and applicable period is indicated, and other criteria are met.

The regulator established that the comparison tool provides accurate, clear, and up-to-date information, including about the prices of offers from electricity traders, which is updated at least once a week.

Thus, the SPRK council decided to recognize that the electricity price comparison tool provided by the Latvian Association of Free Electricity Market meets the minimum requirements set out in the regulations and to include the price comparison tool provided by the association in the register of electricity price comparison tools.

LETA has already reported that by the beginning of October, SPRK had received one application regarding the electricity price comparison tool.

As previously reported, the rules for the electricity price comparison tool approved by SPRK came into effect in July of this year, allowing users to compare offers from electricity traders in one place.

To enhance the transparency of the electricity market and provide users with the ability to easily and reliably compare electricity sellers' offers in one place, the Electricity Market Law provides for the establishment of rules for the price comparison tool for electricity sales offers.

The rules for the electricity price comparison tool define the minimum requirements for the tool itself, the information that must be included in it, and the criteria for assessing the compliance of the tool provider.

SPRK explains that various websites for comparing electricity prices are already available in Latvia; however, their activities are not regulated by a single legal framework. The new rules are developed in accordance with the Electricity Market Law and stipulate that SPRK must establish clear requirements that comparison tools must meet, including regarding the information included, its reliability, and transparency. The law also provides for the obligation of SPRK to issue certificates of compliance of the tool with the minimum requirements, to supervise, and to maintain a publicly accessible register of tools that meet these criteria.

The rules developed by the regulator also define how comparison tool providers can obtain a certificate of compliance. Obtaining this confirmation is voluntary; however, it serves as a sign of reliability for users that a specific tool provides quality and accurate information.

Electricity traders are also required to provide information about offers in a machine-readable format and to give users links to the website where the register of comparison tools is available.