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International Internet Magazine. Baltic States news & analytics Sunday, 21.07.2019, 18:36

Electricity prices in Lithuania drop w-o-w as demand falls

BC, Vilnius, 20.02.2017.Print version
Electricity prices across the Baltic Sea region went down last week as demand for power declined due to improved weather conditions, Litgrid said LETA/BNS on Monday.

The average price of electricity in Nord Pool Spot's Lithuanian bidding area fell by 12% last week from a week earlier to 34 euros per megawatt-hour.

"As temperatures were 8 degrees (Celsius) higher on average (last week) than the previous week, electricity consumption in the Baltic countries fell by 6 percent, and combined heat and power plants generated less electrical energy," the power transmission system operator said in a press release.

On the other hand, wind power output in Lithuania and across the region increased amid stronger winds, it added.

Although power imports from Sweden last week declined by a factor of five, the average wholesale electricity price in Lithuania and Latvia remained unchanged from that in Nord Pool's fourth Swedish bidding area, Litgrid noted.

Lithuania last week imported 83% of its electricity, with 58% of imports coming from Latvia, Estonia and Finland, 4% from Sweden and 38% from third countries.

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