Analytics, Baltic, Energy, Energy Market

Week-on-week, the average price of electricity fell by 7% to 56.30 euros per megawatt-hour (MWh) in Lithuania, by 8% to 55.73 euros in Latvia and by 35 t to 54.72 euros in Estonia, the independent electricity supplier said.

It attributed the price decreases to increased precipitation and higher-than-usual temperatures.

Other factors included increased wind power generation, a slight decline in coal prices and the completion of annual maintenance at a Swedish nuclear power plant.

The Baltic region's overall electricity production grew by 2%t on November 26 through December 2 from a week earlier to 380 gigawatt-hours (GWh). Power generation jumped by 29% to 56 GWh in Lithuania and rose by 12% to 137 GWh in Latvia, but fell by 9% to 187 GWh in Estonia.

Locally-generated electricity covered 61% of the region's needs. Estonia generated 99% of its electricity and Latvia produced 85%. Lithuania met 21% of its needs.

The Baltic countries' total power consumption grew by 6% week-on-week to 618 GWh, rising by 4% to 268 GWh in Lithuania, by 6% to 189 GWh in Estonia and by 8% to 161 GWh in Latvia.