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From May 18 to 24, electricity cost 27.18 euros per megawatt hour (MWh) in the Lithuanian price area of the Nord Pool exchange. The price of electricity was the same in Latvia, where it became 11% more expensive. In Estonia, the price rose 19 percent. up to 29.36 euros. At that time, the price of electricity on the stock exchange fell 14 percent. up to EUR 10.02 per MWh.
“The biggest impact on prices in the Nordic countries was caused by heavy rains, which led to a sharp increase in production at hydroelectric plants in the region. Meanwhile, the price difference between the Baltic countries was related to lower electricity flows between countries ”, says Karolis Bagdonas, head of important clients of Elektrum Lietuvos.
Last week, electricity production in the Baltic countries fell 11 percent. up to 244 gigawatt hours (GWh). It fell the most in Lithuania: 26 percent. up to 80 GWh, in Estonia – 11 percent. up to 54 GWh. At that time, production in Latvia increased by 3%. up to 110 GWh.
During the week, the three Baltic countries together produced just over half (51%) of the electricity they needed. 38% was generated in Lithuania, 39% in Estonia and 86% in Latvia. The country needs electricity.
In Lithuania and Latvia, electricity consumption remained the same at 208 GWh and 128 GWh, respectively. In Estonia, consumption fell 4%. up to 137 GWh. Total electricity consumption in the Baltic States fell by 1%. up to 473 GWh.
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