Energy, Energy Market, Lithuania

International Internet Magazine. Baltic States news & analytics Tuesday, 18.06.2019, 10:07

Electricity price drops 16% in Lithuania over week

BC, Vilnius, 27.02.2017.Print version
After Lithuania imported cheaper energy from the Nordic states and generating more from renewable resources, electricity prices on the Nord Pool Spot's Lithuanian bidding area last week declined by 16% to 31.99 euros per megawatt-hour from a week earlier.

Litgrid said lower prices were a result of warmer weather, as power consumption dropped by 3% last week.

"Lower consumption levels also led to lower output of thermal power plants – it fell by a fourth in the Baltic states. On Feb. 24, the Estonian Independence Day, the consumption was about a fifth lower than on a regular office day," the power transmission system operator said in a press release.

Lithuania last week imported 69% of its electricity, with 23% of imports coming from Latvia, Estonia and Finland, 16% from Sweden and 49% from third countries.

On NordPool, the average price last week went down by 7% to 29.84 euros per MWh. Litgrid said prices dropped in all countries of the Baltic Sea region due to lower consumption levels and warmer temperatures.

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