Elektrum

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.

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

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 industry

PRIMARYTLAKAMAG

EV Charging Network Management & Software Services (CPMS, Monitoring, Billing)

Transportation & Logistics/Vehicle & Equipment Maintenance, Repair & Services (MRO)/Battery, EV Charging & Electrification Service (EV/Hybrid)

SECONDARYTLABAMAK

EV Charging Payment & Reimbursement Programs (Public/Depot Charging)

Transportation & Logistics/Fleet Leasing, Rental & Management/Fleet Fuel, Toll & Expense Management Programs

Keywords

• Retail electricity supply
• Natural gas supply
• EV charging network
• Home energy services
• Energy efficiency programs

Headquarters

HQ city

Riga

HQ country

Latvia

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Operations, Infrastructure, Personnel, Technology or R&D, Marketing or Sales

Revenue model

1. Electricity trading: Sale of electricity to residential and business customers in Latvia. Customers can choose from various electricity products with different pricing structures.
2. Natural gas trading: Sale of natural gas for heating and cooking to residential and business customers.
3. EV charging services: Public electric vehicle charging through Elektrum Drive network with post-paid and instant payment options.
4. Insurance products: Insurance products including SOS kit, payment security, home safety, energy risks, and heating solution safety.
5. Service maintenance: Chimney sweeping, gas boiler maintenance, and electrical wiring inspection services.
6. 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

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core 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.

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

AI capability7 records

Feature4 records

Partnerships

Eight partnerships are on record, tiered minor and core.

• Riga Zoo (Rīgas Zooloģiskais dārzs)minorStrategic or Co-development Partner · 16 June 2025Elektrum 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)minorStrategic or Co-development PartnerElektrum is a partner/sponsor of the Latvian Basketball National Team, supporting sports and gaining brand visibility.
• Rimi Riga MarathonminorStrategic or Co-development PartnerElektrum is a partner of the Rimi Riga Marathon, a major sporting event in Latvia, for brand visibility and community engagement.
• Sadales tīklscoreStrategic or Co-development PartnerSadales 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.
• GasocoreStrategic or Co-development PartnerGaso 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)minorChannel Partner/ Reseller/ DistributorPartner offering 25% discount on parcel locker deliveries for Elektrum customers as part of the friendly benefits (draudzīgie labumi) loyalty program.
• DPD LatviaminorChannel Partner/ Reseller/ DistributorPartner offering 25% discount on parcel delivery to DPD parcel lockers for Elektrum customers as part of the friendly benefits loyalty program.
• PROBRO Car WashminorChannel Partner/ Reseller/ DistributorPartner 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

Direct 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

• LinkedInlinkedin.com/company/elektrum

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Elektrum