Last week, the average price of the electricity exchange in Latvia decreased by 17% to 94 euros per megawatt hour (MWh), Latvenergo AS informed LETA.
Thus, for the first time since the last week of August, the price has fallen below 100 euros per MWh.
The price has also decreased in the other Baltic countries – in Estonia it decreased by 17% and was 94.14 euros per MWh, while in Lithuania the price decreased by 15% to 96.26 euros per MWh.
Electricity prices in the Baltics followed the price trend in the Nordic countries. Meanwhile, the energy flow remained unchanged: from the Swedish SE4 sales area, it decreased by 7% compared to the previous week, the flow from Finland was 4% lower, and the energy flow from Russia decreased by 2%.
Meanwhile, the price of the Nord Pool weekly system fell by 15% to 52.98 euros per MWh. In the Nordic countries, there was a large amount of precipitation that was above the norm, therefore the decrease in prices continued, as well as the level of filling of hydro reservoirs improved. Although the development of wind power plants decreased by 4% compared to the week before, it remained at a high level.
Although the annual maintenance season of the Nordic nuclear power plants continues, the share of available capacity increased last week and accounted for 88% of the total installed capacity.
Compared to the week before, consumption in the Nord Pool region increased to 8,186 gigawatt hours (GWh). Development volumes also increased slightly and 8440 GWh were produced.
Last week, the total electricity consumption in the Baltic States increased by 1% to 527 GWh. In Latvia, consumption remained at the previous week’s level and a total of 137 GWh was consumed, in Estonia the level of consumption remained unchanged compared to the week before, and a total of 152 GWh was consumed, while in Lithuania consumption increased by 1% to 238 GWh.
Last week, total electricity generation in the Baltics decreased by 2% to 269 GWh. Among other things, electricity generation in Latvia decreased by 18%, and 59 GWh was produced in the previous week, in Estonia production volumes decreased by 5% and was 110 GWh, while in Lithuania electricity generation was 17% higher and 100 GWh was produced.
Last week, the development volume against consumption in Latvia was 43%, in Estonia – 73%, but in Lithuania – 42%. The Baltic States produced 51% of the electricity consumed in the region.
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