Analytics, Energy, Energy Market, EU – Baltic States, Lithuania

International Internet Magazine. Baltic States news & analytics Tuesday, 21.05.2019, 04:08

Electricity prices across Baltics fall further w-o-w

BC, Vilnius, 19.02.2019.Print version
Electricity market prices fell by around 10 percent across the Baltic region last week, driven down, among other factors, by warmer weather which curbed demand, the independent electricity supplier Elektrum Lietuva said on Tuesday.

The average electricity market price in Lithuania dropped by 9.4% w-o-w to 45.93 euros per megawatt-hour (MWh) and prices in both Estonia and Latvia were down by 10.4% to 46.25 euros.

Elektrum Lietuva said the decline in electricity prices was mostly due to warmer temperatures and decreased prices for emission allowances.

Other factors included higher-than-usual precipitation that improved water levels at Nordic hydro power plants' reservoirs, which still remain lower than usual, and increased wind power generation.

The Baltic countries' total power consumption declined by 5% on February 11-17 from a week ago to 570 gigawatt-hours (GWh) and their overall electricity production was down by 20 percent to 326 GWh. Locally-generated electricity covered 57% of the region's needs.

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