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International Internet Magazine. Baltic States news & analytics Thursday, 06.10.2022, 10:59

Lithuania's avg wholesale electricity price jumps 27% w-o-w - Litgrid

BC, Vilnius, 27.04.2020.Print version
Lithuania's average wholesale electricity price jumped by 27 percent last week compared with a week earlier to 28.1 euros per megawatt-hour (MWh), returning to the level it was at in early 2020, Litgrid said on Monday.

Wholesale prices in Latvia and Estonia also averaged 28.1 euros per MWh, up by 26% and 20% w-o-w, respectively. Across the Nord Pool system, the average price rose by 23% to 5.5 euros, following six straight weeks of decline, the power transmission system operator said in a press release. 

"The change was mostly due to decreased wind generation," said Liutauras Varanavicius, the director of Litgrid's Strategy Department.

"However, given that climatic conditions are very favorable and large water reserves are anticipated in Scandinavia due to snowmelt, prices are likely to remain low in the coming weeks," he added.   

Lithuania's electricity consumption rose by 1% w-o-w to 209 gigawatt-hours, but production fell by 18% to 71 GWh, covering 34% if its needs.

Lithuania imported 69% of its electricity, with its overall imports up by 4% w-o-w. 24% of imports came from third countries, 59% via NordBalt, 11% via LitPol Link, and 7% via Latvia.  

The Baltic countries' total electricity consumption edged down by 1% to 475 GWh.

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