Every industrial activity and procedure influences the environment and climate change: each to a lesser or greater extent. In Latvia, the Environmental Impact Assessment (EIA) procedure has been carried out for more than ten years and during these years impact assessments of many projects have been conducted. The main purpose of EIA is to assess the possible impact of the implementation of intended activities, or a planning document, on the environment and to consequently develop proposals for the prevention or decreasing of negative effects in order to avert violation of the requirements specified in regulatory enactments. Latvia is a country with limited resources. The development of the national economy is unthinkable without an increase in the production sector. In turn, the development of the production sector is connected with the intensification of production capacity and the resulting consequences – impact to environment. Power industry in Latvia has acquired a stable position in the national economy. Life Cycle Assessment (LCA) is a specific procedure for product or process impact assessment. LCA differs from EIA in its primary holistic approach that is referenced not on the evaluation of the impacts of a particular site or facility but on the entire environmental effects (direct and indirect) of a certain product or system among all their single life processes (cradle-to-grave thinking). The work concludes with the suggestions how to include principles of LCA in the EIA procedure for the improvement of the power energy projects impact assessment.