Analytics, Baltic, Energy, Lithuania

International Internet Magazine. Baltic States news & analytics Tuesday, 02.06.2020, 11:52

Lithuania's avg wholesale electricity price drops 24% w-o-w - Litgrid

BC, Vilnius, 06.01.2020.Print version
Lithuania's average wholesale electricity price dropped by 24% last week compared with a week earlier, Litgrid said LETA/BNS.

Electricity prices in Nord Pool's Lithuanian bidding area averaged 27.4 euros per megawatt-hour (MWh), the lowest average weekly level in the market since 2018, on December 30-January, down by 41% compared with the first week of 2019, it said. 

Prices in Estonia and Latvia fell by 24% w-o-w, too. Across the Nord Pool system, the average price went down by 18%. 

The Lithuanian power transmission system operator attributed the decline in the Baltic electricity prices to a sharp increase in wind power generation, the continuing holiday period, and a general downward trend across the region. 

The three Baltic countries' total power consumption rose by 2% to 539 gigawatt-hours (GWh). Their electricity production covered 60% of their needs.

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