The average electricity price in Latvia and Lithuania went down by 25% last year, as reported by Latvenergo representatives. The price went down in the entire Nord Pool region.
Additionally, the average electricity price in Latvia and Lithuania the price was 56.22 EUR/MWh. In both trade regions it went down by 25% compared with the week prior. In Estonia the spot price went down by 26%, to an average of 54.69 EUR/MWh. Nord Pool system price went down by 15%, to an average of 64.45 EUR/MWh.
The drop in electricity prices in Nord Pool region came from a 5% lower electricity consumption, which was influenced by warmer weather.
Additionally, a slight drop in prices was observed for energy resources (natural gas, coal) when compared with a week prior. Higher precipitation volumes affected water levels in Nordic and Baltic States, which had a positive effect on water reservoir levels.
Wind energy production in the region was unstable and went down by 19% over the course of the week when compared with the week prior.
In Baltic States the electricity price drop was affected by 55% higher power output of hydroelectric power plants in Latvia, which compensated 23% lower energy flow from Finland and 28% lower electricity flow from Sweden’s fourth region.
In the Nord Pool region electricity consumption was 8,407 GWh. Production volumes reached 8,628 GWh.
The general electricity consumption in Baltic States went down by 4%, to 507 GWh. In Latvia electricity consumption volume was 127 GWh, 3% lower than a week prior. In Estonia electricity consumption went down by 3%, to 160 GWh. In Lithuania consumption was 220 GWh, 5% lower when compare with a week prior.
Last week electricity generation in Baltic States went up by 3%, reaching 378 GWh. In Latvia electricity generation went up by 38%, to 209 GWh. In Estonia it went down by 29% and was 70 GWh. In Lithuania electricity generation went down by 14% and was 99 GWh. (BNN/Business World Magazine)