In March 2024, the price level in Lithuania was identical to Latvia, but in Estonia the monthly average price was slightly higher – 68.26 euros per MWh.
Lower gas prices contributed to the decline in electricity prices, as well as warmer weather conditions, which contributed to a reduction in electricity consumption, and a more intensive flood process, which increased water inflow into rivers and, therefore, electricity production in hydroelectric power plants.
The review said that the interconnected electricity trading areas of the Baltic States showed different trends in March in relation to the average electricity price, including in Finland, the price increased by 15% compared to the previous month, but decreased by 19.9% compared to March of the previous year and was 59.38 EUR per MWh.
In Sweden’s fourth district, the price of electricity was 56.05 euros per MWh, which is 14% more than in February, but 31.5% less than in March 2023.
In Poland, on the other hand, the price of electricity was 75.36 euros per MWh, which is 1% less than in February and 37.4% less than in March 2023.
In March, compared to February, the import of electricity to the Baltic States decreased by 19%, but compared to March 2022, the import decreased by 24.5%.
Among them, imports from Poland decreased by 25% compared to February, but increased 3.7 times compared to March 2022.
Imports from Sweden’s fourth price zone in March were 17% lower than in February, but 20.6% higher than a year earlier. On the other hand, imports from Finland in March were 17% lower than in February and 69.9% lower than in March 2022.
It has already been reported that on January 26, due to damage, the “EstLink 2” electricity connection between Finland and Estonia was unplanned, thus the transmission capacity between Finland and Estonia has been reduced by 650 megawatts (MW). At the same time, the total transmission capacity has decreased to 350 MW provided by “Estlink 1”.
The generating capacity of the Latvian energy system is sufficient to cover Latvia’s consumption, as well as to export electricity to Lithuania and Estonia.
In addition, electricity prices on the Nord Pool exchange have not been affected by the outage and remain stable. Currently, it is predicted that the repair of the interconnection could last until the end of August 2024.
2024-04-03 08:04:07
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