Elektrum
Elektrum is the retail trading brand of Latvia's state-owned energy company Latvenergo, serving Latvian households and businesses with electricity, natural gas, EV charging, insurance, and home maintenance services via a self-service web portal and mobile apps.
- Company typePublic
- Founded2012
- HeadquartersRiga, Latvia
- Headcount11–50
- GTM typeB2B and B2C
- OfferingServices
What Elektrum does
Elektrum is the retail trading brand of AS Latvenergo, Latvia's state-owned energy company, established in 2012 to serve residential and business customers across Latvia with electricity and natural gas supply. The brand has evolved into an integrated energy services platform encompassing core utility supply (electricity and gas), the Elektrum Drive public EV charging network with post-paid and instant payment options, insurance products (home safety, payment security, energy risks, heating solutions), and home services including chimney sweeping, gas boiler maintenance, and electrical wiring inspection. Customer touchpoints operate through a self-service web portal (www.elektrum.lv), two mobile applications (Elektrum Latvija and Elektrum Drive), a phone-based customer service center, and an online store (E-veikals) for technology products including EV charging equipment.
Elektrum firmographics
Firmographics- Name
- Elektrum
- Legal name
- Akciju sabiedrība "Latvenergo"
- Website
- https://elektrum.lv
- Company type
- Public
- Founded year
- 2012
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Elektrum is the retail trading brand of Latvia's state-owned energy company Latvenergo, serving Latvian households and businesses with electricity, natural gas, EV charging, insurance, and home maintenance services via a self-service web portal and mobile apps.
- Ownership category
- akta.pro rank
Elektrum industry classification
Industry- Product category
- Retail Energy Supply
- NAICS
- Electric Power Generation, Transmission and Distribution (2211), Natural Gas Distribution (221210)
- SIC
- Electric Services (4911), Natural Gas Distribution (4924)
- akta.pro primary industry
- EV Charging Network Management & Software Services (CPMS, Monitoring, Billing) (TLAKAMAG)
- akta.pro secondary industry
- EV Charging Payment & Reimbursement Programs (Public/Depot Charging) (TLABAMAK)
Keywords
Where Elektrum is headquartered
LocationHeadquarters
- HQ city
- Riga
- HQ country
- Latvia
- HQ region
- Europe
Offices1 record
Markets served
Elektrum business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Operations, Infrastructure, Personnel, Technology or R&D, Marketing or Sales
Revenue model
- Electricity trading: Sale of electricity to residential and business customers in Latvia. Customers can choose from various electricity products with different pricing structures.
- Natural gas trading: Sale of natural gas for heating and cooking to residential and business customers.
- EV charging services: Public electric vehicle charging through Elektrum Drive network with post-paid and instant payment options.
- Insurance products: Insurance products including SOS kit, payment security, home safety, energy risks, and heating solution safety.
- Service maintenance: Chimney sweeping, gas boiler maintenance, and electrical wiring inspection services.
- Interest-free installment sales: Technology products (EV charging equipment, etc.) sold with interest-free payment plans up to 60 months, minimum purchase EUR 40.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Electricity products |
| Subscription | Monthly | Natural gas products |
| Usage-based | Pay-as-you-go | Elektrum Drive EV charging |
| Subscription | Monthly | Insurance products (SOS, home safety, energy risks) |
| Transaction based/ take rate | Monthly | Interest-free installment purchases |
| Unit Pricing | Pay-as-you-go | Service maintenance (chimney, boiler, wiring) |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels6 records
Elektrum product offering
Product offeringCore offering
Elektrum sells electricity and natural gas supply contracts to residential and business customers in Latvia, operates the Elektrum Drive public EV charging network, offers insurance products and home maintenance services (chimney sweeping, gas boiler maintenance, electrical wiring inspection), and runs the Energo Pulss energy efficiency program. Distribution is handled through a self-service web portal, mobile apps, a customer service phone line, and an online store (E-veikals) for energy-related technology products.
Product overview
Elektrum is the trading brand of AS Latvenergo, offering a comprehensive portfolio of energy products and services for households in Latvia. The core offerings include electricity and natural gas supply services, supplemented by the Elektrum Drive electric vehicle charging network. Additional services include insurance products (SOS kit, payment security, home safety, energy risks, heating solution safety), maintenance services (chimney sweeping, gas boiler maintenance, wiring checks), and energy efficiency programs. The service ecosystem is supported by the Elektrum portal and mobile application for self-service management, along with an online store (E-veikals) for technology products. The brand was established in 2012 and serves as the commercial identity for Latvenergo's retail energy operations.
Differentiator
Problem solved
Functional benefit
Brands
- Elektrum Drive: Electric vehicle public charging network providing charging stations, post-paid charging, and instant payment options.
- Energo Pulss
Products and services
- Elektrība (Electricity Supply) Electricity supply service for residential and business customers in Latvia, offering multiple electricity products with different pricing structures including exchange-based pricing options.
- Dabasgāze (Natural Gas Supply) Natural gas supply service for household cooking and heating, with multiple product options tailored to different consumption patterns.
- Elektrum Drive (Public EV Charging) Public electric vehicle charging network providing charging stations across Latvia with post-paid charging and instant payment options, a charging station map, and EV model efficiency tests.
- Apdrošināšana (Insurance Products) Insurance products including SOS kit, payment security, home safety, energy risks, and heating solution safety coverage, available with discounts for Elektrum customers.
- Dūmvadu tīrīšana (Chimney Sweeping) Professional chimney sweeping service for households to support home safety and heating system maintenance.
- Gāzes katla apkope (Gas Boiler Maintenance) Maintenance service for household gas boilers to ensure safe and efficient heating system operation.
- Elektroinstalācijas pārbaude (Electrical Wiring Inspection) Electrical installation inspection service for households to verify home safety and compliance.
- Energoefektivitāte / Energo Pulss (Energy Efficiency Program) Energy efficiency program that analyzes and evaluates household energy consumption using weighted-average consumption profiling, with guidance on reducing electricity, heat, and water use.
- E-veikals (Online Store) Online storefront for purchasing technology products related to energy use, notably EV charging equipment, with interest-free installment plans up to 60 months.
Companies that use Elektrum
Customer profileNamed customers3 records
Segments3 records
Ideal customer profiles3 records
Elektrum technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration3 records
AI capability7 records
Feature4 records
Elektrum partnerships and signals
Strategic signalPartnerships
Eight partnerships are on record, tiered minor and core.
- Riga Zoo (Rīgas Zooloģiskais dārzs)minorElektrum became the sponsor of Amur tiger cubs at Riga Zoo, adopting the two tiger sisters born in December. This social responsibility partnership supports biodiversity conservation and includes public visibility through zoo sponsorship.
- Latvian Basketball National Team (Latvijas basketbola valstsvienība)minorElektrum is a partner/sponsor of the Latvian Basketball National Team, supporting sports and gaining brand visibility.
- Rimi Riga MarathonminorElektrum is a partner of the Rimi Riga Marathon, a major sporting event in Latvia, for brand visibility and community engagement.
- Sadales tīklscoreSadales tīkls (AS Sadales tīkls) is the electricity distribution system operator in Latvia. Latvenergo/Elektrum exchanges customer personal data with Sadales tīkls for electricity distribution, supply, net billing system services, customer service, settlements, and claims handling.
- GasocoreGaso is the natural gas distribution system operator in Latvia. Latvenergo/Elektrum exchanges customer personal data with Gaso for gas distribution, supply, customer service, settlements, and claims handling.
- Latvijas Pasts (Latvian Post)minorPartner offering 25% discount on parcel locker deliveries for Elektrum customers as part of the friendly benefits (draudzīgie labumi) loyalty program.
- DPD LatviaminorPartner offering 25% discount on parcel delivery to DPD parcel lockers for Elektrum customers as part of the friendly benefits loyalty program.
- PROBRO Car WashminorPartner offering 23% discount on car wash services for Elektrum customers as part of the friendly benefits loyalty program.
Scale indicators2 records
Recent moves5 records
Expansion highlights5 records
Elektrum competitors and assessment
Company assessmentDirect peers
- Eleport: Estonian-headquartered EV charging network operator active across the Baltics and Central Europe. Directly comparable to Elektrum Drive as a regional competitor building public EV charging infrastructure in overlapping Baltic markets with similar software and payment capabilities.
- Latvijas Gāze: Latvia's incumbent natural gas distribution and trading company. Directly comparable as the primary competitor to Elektrum's natural gas trading business in the same country, serving overlapping residential and business customers with similar subscription-based gas supply contracts.
- Virta: Finnish-headquartered EV charging platform operator with a pan-European charging network and CPMS software. Directly comparable to Elektrum Drive as a competitor in public EV charging with proprietary software, app, payment systems, and B2B charging management services.
Broad incumbents
- Vattenfall: Swedish state-owned integrated energy company with electricity retail, charging networks (InCharge), and energy services across Northern Europe. Comparable as a state-owned incumbent utility with overlapping electricity retail, EV charging, and energy efficiency services across European markets.
- E.ON: Major European integrated energy company with electricity and gas retail, EV charging (E.ON Drive), and energy efficiency services. Comparable as a broad European incumbent offering the same integrated electricity/gas/EV-charging bundle to residential customers that Elektrum provides within Latvia.
- Fortum: Nordic state-linked integrated energy company with electricity generation, retail, and EV charging solutions. Comparable as a broader European utility incumbent offering electricity supply and EV charging infrastructure across multiple markets, providing a scale benchmark for integrated energy retail.
Regional players
- Ignitis Group: Lithuanian state-owned energy group with electricity and gas retail, generation, and EV charging (Ignitis ON). Comparable as a Baltic state utility offering integrated electricity, gas, and EV charging to residential and business customers in an adjacent market with similar EU regulatory dynamics.
- Enefit: Energy retail brand of Eesti Energia operating in the Baltics, including Latvia, offering electricity and gas supply. Comparable as a competing cross-Baltic retail energy provider with overlapping product portfolio (electricity, gas) targeting similar residential customers.
- Eesti Energia: Estonian state-owned integrated energy company ( Enefit brand) with electricity generation, retail, and EV charging (Enefit Volt). Operates in an adjacent Baltic market with a similar state-utility structure, mixed generation-retail model, and customer-facing EV charging network, making it a structurally close regional analog.
Emerging players
- Selectra: European energy and telecom price comparison and switching service operating across multiple EU markets. Comparable as an adjacent ecosystem participant that drives customer switching in commoditized electricity and gas retail — directly relevant to how Elektrum must defend customer acquisition against price-comparison-driven churn.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Elektrum social profiles
Digital presenceElektrum compliance and trust
Trust signalCompliance1 record
Elektrum financial estimates
Financial estimateRevenue estimate
Valuation estimate
Elektrum leadership team
Management profileNumber of profiles
Elektrum funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Elektrum M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Elektrum
What does Elektrum do?
Elektrum sells electricity and natural gas supply contracts to residential and business customers in Latvia, operates the Elektrum Drive public EV charging network, offers insurance products and home maintenance services (chimney sweeping, gas boiler maintenance, electrical wiring inspection), and runs the Energo Pulss energy efficiency program. Distribution is handled through a self-service web portal, mobile apps, a customer service phone line, and an online store (E-veikals) for energy-related technology products.
Is Elektrum a public or private company?
Elektrum is a public company. It is classified as state government owned and is currently operating.
When was Elektrum founded?
Elektrum was founded in 2012. It employs 11 to 50 people.
Where is Elektrum based?
Elektrum is headquartered in Riga, Latvia, in the Europe region.
How does Elektrum make money?
Six revenue lines are on record. Electricity trading is the primary driver. The others are natural gas trading, EV charging services, insurance products, service maintenance and interest-free installment sales.
Who are Elektrum's main competitors?
Direct peers on record are Eleport, Latvijas Gāze and Virta. Broad incumbents are Vattenfall, E.ON and Fortum. Regional players are Ignitis Group, Enefit and Eesti Energia. Selectra is listed as an emerging player.
Does Elektrum have an API?
No public API is recorded for Elektrum.
What industry is Elektrum in?
Elektrum's product category is Retail Energy Supply. Its primary akta.pro industry code is TLAKAMAG, EV Charging Network Management & Software Services (CPMS, Monitoring, Billing), with a secondary code of TLABAMAK, EV Charging Payment & Reimbursement Programs (Public/Depot Charging). Its NAICS code is 2211 and its SIC code is 4911.