In Latvia, the price of electricity increased by 56% last week – to 189.35 euros per megawatt hour (MWh), Latvenergo AS informed.
Identically, the price increased by 56% to 189.35 euros per MWh in Lithuania, but in Estonia the price rose to 181.06 euros per MWh, which is 54% more than a week earlier.
Last week, the price of the Nord Pool system rose by 54% to 145.71 euros per MWh.
Latvenergo explains that the increase in electricity prices last week was mainly due to a 48% drop in wind power plant development in the Nord Pool region compared to the previous week. Electricity prices in the Baltics followed the upward trend in prices in the Nordic countries. Prices in the Baltics were affected by 32% lower energy flows from Sweden’s SE4 sales area and 23% lower energy flows from Finland.
The annual maintenance season for the Nordic nuclear power plants is also continuing, with 78% of the total installed capacity available last week.
In the Nord Pool region, electricity consumption decreased to 6,857 gigawatt hours (GWh) and production volumes decreased to 7,225 GWh.
In the Baltic States, total electricity consumption remained at the previous week’s level and was 482 GWh. A total of 127 GWh of electricity was consumed in Latvia, which is 1% more than a week earlier. In Estonia, meanwhile, electricity consumption fell by 1% to 148 GWh. Consumption in Lithuania also decreased by 1% to 207 GWh.
In the Baltics, total electricity generation increased by 6%, producing 321 GWh. In Latvia, electricity generation fell by 15% to 70 GWh. Meanwhile, production volumes in Estonia increased by 26% to 179 GWh. In Lithuania, electricity generation was 72 GWh, which was 7% less than in the previous week.
Last week, the volume of development against consumption in Latvia was 55%, in Estonia – 121%, but in Lithuania 35%. The Baltic States generated 67% of the electricity consumed in the region.
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