Energy, Energy Market, Lithuania

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.