Latvia’s transmission system operator AS Augstsprieguma tīkls (AST) invested EUR 48.67 million in the development of the electricity transmission grid during the first half of 2026, strengthening security of electricity supply and the availability of transmission services. Of this amount, EUR 27.51 million was invested in establishing new grid connections for solar and wind power plants, financed by the developers, while EUR 5.2 million was invested in the reconstruction and refurbishment of substations and transmission lines.

AST's net turnover during the reporting period amounted to EUR 136.48 million, including EUR 47.8 million in revenue from electricity transmission services. The significant revenue increase of EUR 9.76 million, or 8%, compared with the corresponding period in 2025, was mainly attributable to a rise in revenue from balancing energy and balancing capacity of EUR 41.76 million, while the amount of congestion income allocated to cost recovery* was EUR 34.39 million lower. AST's profit in the first half of the year increased from EUR 13.16 million in the corresponding period of 2025 to EUR 21.05 million this year. The increase in profit was driven by the new transmission tariff that entered into force on 1 January of this year, the calculation of which includes rates of return on capital approved by the Public Utilities Commission.

In the first half of 2026, the volume of electricity transmitted by AST increased by 8% compared with the same period last year, reaching 3,239 GWh.

Interest in renewable energy generation continues to remain strong in Latvia in 2026. Through the construction of new grid connections, five new solar parks with a total connection capacity of 519 MW and two wind farms with a capacity of 150 MW were connected to the transmission grid during the first half of the year. In addition, two Battery Energy Storage Systems (BESS) with a capacity of 68 MW were connected. By the end of the year, AST plans to establish grid connections for a further four wind farms and four hybrid solar power plant and BESS projects with a combined capacity of 913 MW.

By mid-2026, the installed solar and wind generation capacity connected to the transmission system exceeded 1,100 MW, while connected BESS capacity approached 200 MW. Based on AST’s signed agreements for the construction of new grid connections, these generation and storage capacities could double over the next three years.

At present, the total reserved capacity for connecting new energy facilities to the transmission grid, including connections planned for this year, amounts to 4,283 MW. Developers have also expressed additional interest in connecting power plants with a total capacity of 1,914 MW. In accordance with amendments to the Electricity Market Law, capacity for these projects will be reserved upon signing a connection agreement. Consequently, the total capacity covered by signed and planned connection agreements amounts to 6,197 MW.

This year AST continued work on the development of new cross-border 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, while an environmental impact assessment was initiated for the fourth Latvia–Estonia interconnection, planned as a submarine cable project.

In the reporting period, the natural gas transmission segment of AST’s subsidiary AS Conexus Baltic Grid generated revenue of EUR 33.35 million and profit before corporate income tax of EUR 9.52 million. The increase in profit compared with the corresponding period of the previous year was driven by a 35% increase in natural gas transmission revenue resulting from higher natural gas consumption in Latvia. Revenue in the natural gas storage segment amounted to EUR 15.83 million, while profit before corporate income tax reached EUR 5.65 million.

The Augstsprieguma tīkls Group recorded net turnover of EUR 185.66 million in the first half of 2026. Net profit increased from EUR 19.07 million in the corresponding period of 2025 to EUR 22.47 million this year. The Group comprises the parent company AST and its subsidiary, the unified natural gas transmission and storage operator Conexus Baltic Grid, in which AST holds a 68.46% ownership stake. The Group’s core activities include performing the functions of an electricity transmission system operator, efficient management of electricity transmission system assets, and natural gas transmission and storage.

Financial reports are available on AST’s website: https://www.ast.lv/en/content/financial-reports.

^{* Congestion management income arises from electricity price differences between bidding zones on the power exchange and from auctions of Financial Transmission Rights (FTR Options) related to cross-border transmission capacity.}