Energy, Energy Market, EU – Baltic States, Lithuania

International Internet Magazine. Baltic States news & analytics Friday, 06.12.2019, 06:22

Lithuania's electricity price hits 3-year high - Energijos Tiekimas

BC, Vilnius, 07.09.2018.Print version
Lithuania's average electricity market price continued its upward climb for the fourth month in a row in August to reach its highest level for nearly three years, due in part to repairs on the NordBalt power link with Sweden, Energijos Tiekimas said LETA/BNS.

The price of electricity in Nord Pool's Lithuanian bidding area jumped by 8 % in August from July to 59.03 euros per megawatt-hour (MWh). The last time a similar average monthly price was recorded was in 2015. 

"Electricity imported from Sweden is normally among the cheapest in the region, and the country's limited exports are driving the average price in Lithuania up," Diana Kazakevic, the electricity trade and supply company's business development director, said. 

"The flow of electricity from Sweden stopped after repairs on the NordBalt link started on August 16, which led to a two-fold increase in usually more expensive electricity imports from third countries," Kazakevic said.  

An increase in domestic power generation in Lithuania has recently kept electricity prices from rising even more sharply, she added. 

The NordBalt repairs are scheduled to continue until October 28. 

Y-o-y, Lithuania's average electricity price surged by 58% in August.  


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