By saving up a portion of their monthly income, 31% of Baltic residents have managed to accumulate up to EUR 5,000 in savings. Savings of 21% of Baltic residents are higher than that. Estonian residents generally have the biggest savings. Latvia, on the other hand, has many more residents who don’t have any savings at…
Eesti Gaas, the Baltic-Finnish region’s largest private energy company, is set to enter Latvia’s household natural gas market starting from May 1 under the international brand name Elenger. “We believe that the entry of a new market player will certainly benefit gas consumers in Latvia, providing people with the opportunity to choose the most suitable…
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…
On March 28, Politico reported that six EU countries, including Estonia and Lithuania, were profiting from sending military aid to Ukraine. According to the Lithuanian and Estonian governments, the report is misleading. According to Politico, the six countries calculated their reimbursement by the European Peace Facility (EPF) for aid to Ukraine based on new acquisitions…
Lithuanian grid operator Litgrid is planning to carry out another 24-hour de-synchronization test from the Russian grid on April 22. According to Taavi Veskimagi, chair of Elering’s management board, Estonia is well prepared for the Lithuanian test to take place. However, having weighed up the potential benefits against the risks and costs involved, it does…
Ukraine seeks to cooperate with the Baltic States in the oil and gas sector and electricity, in particular, in the implementation of programs on decentralization of the energy system and the development of bioenergy and cogeneration projects. “Ukraine aspires to become a hub of clean electrical energy for Europe. The country will increase its capacity…
Latvia’s defense spending in 2023 will rise proportionately almost to Estonian levels, and will be set at 2.25% of Gross Domestic Product. The 2.25% figure represents a major advance on the figure of 1% of GDP, which Latvia spent on defense in 2014, and reflects both the changed security situation and the stance taken by…