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Weather also plays an important role in raising electricity prices. The development of wind farms fell by 33% last week, and prolonged dry weather in the Nordic countries contributed to the deterioration of hydrological performance. The annual maintenance season of the Nordic nuclear power plants continues, and last week the share of available capacity was 83% of the total installed capacity.
Baltic countries, average electricity prices rose in all trading areas. In Latvia, the price of electricity rose by 16%, in Lithuania – by 15% compared to the previous week, and in both countries it was 124.12 EUR / MWh. In Estonia, the price increased by 11% and was 119.39 EUR / MWh. In the Baltics, the rise in electricity prices was mainly driven by rising electricity prices in the Nordic countries. Energy flows from Swedish The SE4 trading area fell 89% annually NordBalt due to interconnection maintenance work. Energy flows from Russian was 13% lower, but energy flows from Finland decreased by 1%. Compared to the previous week, consumption in the Nord Pool region remained at the previous week’s level and was 6,890 GWh, while production volumes increased to 6,951 GWh.
Last week, the total electricity consumption in the Baltic States increased by 3%, and a total of 506 GWh was consumed. In Latvia, consumption increased by 2% to 131 GWh. In Estonia, consumption was 3% higher and a total of 150 GWh was consumed. In Lithuania, consumption increased by 3% to 225 GWh.
Last week, total electricity generation in the Baltics increased by 26% to 308 GWh.
In Latvia, electricity generation increased by 90%, 71 GWh was generated in the previous week. In Estonia, production volumes increased by 5% to 127 GWh. In Lithuania, electricity generation increased by 28% and 110 GWh was generated.
Last week, the volume of development against consumption in Latvia was 54%, in Estonia 85%, but in Lithuania 49%. The Baltic States produced 61% of the electricity consumed in the region.
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