JSC "RĪGAS SILTUMS", a joint stock company registered in Latvia, was founded on September 25, 1995. Its founders are Riga City Council, the State owned JSC Latvenergo, the Latvian commercial bank Baltijas Tranzītu Banka. The company was registered in the Latvian Register of Enterprises on March 14, 1996. JSC"RĪGAS SILTUMS" started to produce and distribute thermal energy on May 1st, 1996.
JSC "RĪGAS SILTUMS" is the main heat supplier of Riga. The Company is engaged in production, distribution and sale of thermal energy, and also ensures technical maintenance of inner heat supply systems in buildings.
The major part of thermal energy, around 70% of the total amount, is purchased from large cogeneration plants owned by the State owned JSC Latvenergo. Other producers supply around 0.05% of thermal energy. The rest amount of thermal energy is produced at the company's plants: five major district heating plants and a number of smaller boiler houses.
The heat sources of JSC “RĪGAS SILTUMS” use natural gas and wood-chips as a main fuel. Owing to the modernization of the heat sources, the share of wood-chips as a fuel has amounted to about 50%. In case of natural gas supply failure, the marked diesel fuel can be used for heat production.
The Joint Stock Company Rigas Siltums manages and distributes 76% of the thermal energy in the city of Riga. 77% of the thermal energy are used for heating of residential houses and for preparation of domestic hot water. Total length of city's heating network is about 800 km, 72% of which are owned by the JSC Rigas Siltums.
There is a myth of a wide currency that gives a false colour of the company as a monopolist. In fact, customers are free to choose a desired source of heating. District heating enterprises face serious competition in the heat market. However, the district heating enterprise JSC Rigas Siltums, working in conditions of free market and competition, has succeeded in improving the quality of heat production and distribution.