Energy, Energy Market, Lithuania

International Internet Magazine. Baltic States news & analytics Saturday, 28.11.2020, 13:06

Lithuania's wholesale electricity price dropped 4% in October

BC, Vilnius, 19.11.2020.Print version
Lithuania's average wholesale electricity price dropped 4% in October, compared to September, independent electricity provider Elektrum Lietuva said on Thursday.

Latvia and Estonia recorded similar decreases in their prices.

Prices in Nord Pool's Lithuanian bidding area averaged 37.72 euros per megawatt-hour (MWh).

The average price in Latvia went down by 5% to the same level as the one of Lithuania, and Estonia's average price dropped also 5% to 37.62 euros.

"Electricity prices in neighboring countries had major impact on the Baltic states' energy prices in October. An increase in energy flows also played a major role as the Estlink-2 and Nordbalt interconnections went back online followed the annual maintenance work, and a 16 percent increase in energy flows from Finland and a rise of 24 percent from Sweden's SE4 zone were also recorded," Martynas Giga, director of Elektrum Lietuva, said in a statement.

The hydrological situation in the Nordic countries and seasonally warmer weather conditions also had impact on the low price level, the company said.

The Baltic states' total power generation went down by 8% to 1.144 TWh. Power generation dropped 18 percent to 0.395 TWh in Lithuania, inched down 2% to 0.326 TWh in Latvia and went down by 3 percent to 0.422 TWf in Estonia.

Their domestic electricity generation covered 50% of the region's needs. 

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