Last week, the average price of electricity in Latvia decreased by 22%, AS “Latvenergo” informs.
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Both rising and falling price trends have been observed in the sales areas of “Nord Pool”, but electricity prices in the Baltics have decreased, informs “Latvenergo”.
In Latvia and Lithuania, the weekly average price of electricity decreased by 22%, and in both trade areas it was equal to 72.09 euros per megawatt hour (euro/MWh). In Estonia, the average price of electricity was 69.74 euros/MWh, which is a drop of 23% compared to the previous week. The “Nord Pool” weekly system price decreased by 14% to 51.27 euros/MWh.
In the past week, the decrease in electricity prices was facilitated by greater development in wind power plants – in the Nordic countries it increased by 11%, while in the Baltics it increased by 73% compared to the previous week’s data. In addition, prices in energy markets, except for crude oil, showed a downward trend.
“Latvenergo” explains that the decrease in electricity prices in the Baltics is also influenced by 3% lower consumption and 2% higher solar development compared to the previous week. Energy flows from Finland and Sweden’s SE4 trading area were unchanged.
The annual maintenance season of the Nordic nuclear power plants continues, and last week the share of available capacity from the total installed capacity was 76%.
In the “Nord Pool” region, electricity consumption was 6143 gigawatt hours (GWh) and development volumes – 6798 GWh.
Total electricity consumption in the Baltic States decreased by 3% to 429 GWh. The amount of electricity consumed in Latvia and Estonia decreased by 2% and was 108 GWh and 128 GWh, respectively. In Lithuania, consumption decreased by 5% to 193 GWh.
Last week, electricity production in the Baltics increased by 6%, and a total of 222 GWh was produced. In Latvia, the amount of electricity generation fell by 39% to 27 GWh. Meanwhile, in Estonia, electricity production increased by 7% to 88 GWh, while in Lithuania, production volumes rose by 29% to 107 GWh.
In the past week, the volume of production versus consumption in Latvia was 25%, in Estonia – 69%, and in Lithuania – 56%. 52% of the electricity consumed in the region was produced in the Baltic States.
2023-07-11 17:26:59
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