On 31 July 2013, “Augstsprieguma tīkls” AS joined the “Fair Euro Introducer” initiative, thus supporting transparent introduction of the euro and fair commercial practice in Latvia.

The objective of the entrepreneurs’ initiative “Fair Euro Introducer” is to facilitate fair and transparent introduction of the euro in Latvia. The Memorandum was adopted on 12 July 2013 after the official invitation to Latvia to join the Euro zone. “Augstsprieguma tīkls” AS ensures electricity transmission as well as supply to the largest companies in Latvia and is responsible for power supply safety, and by joining the initiative is determined to keep with the following:

• to not use the introduction of the euro for price increase of goods and services;
• to indicate clear and unambiguous prices in Lats and in Euros for all services during the period of dual display of prices from 1 October 2013 until 30 June 2014;
• to provide fair recalculation of prices from Lats to Euros, in compliance with the official currency exchange rate 1 EUR = 0.702804 LVL, and the principles of mathematical rounding-off, as well as the legislative acts related to the recalculation and indication of prices;
• to the fullest extent possible facilitate the accession of cooperation partners, suppliers and customers to the initiative, explaining as much as possible the objective and principles of the Memorandum during the period of the introduction of the euro;
• to inform and train employees on the matters related to the introduction of the euro, ensuring their ability within their competence to explain the principles of price indication to customers.

By joining the initiative, “Augstsprieguma tīkls” AS states that it will introduce euro according to fair commercial practice.