Energy, EU – Baltic States, Latvia, Lithuania
International Internet Magazine. Baltic States news & analytics
Tuesday, 23.04.2024, 09:12
In July, electricity in Lithuania and Latvia was most expensive since January
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The average electrical energy price has grown stably in all Baltic States and in July was the highest in the last 9 months, informs free market energy provider Enefit.
According to Janis Bethers, Managing Director of Enefit, there is a lack of sufficiently competitive energy production resources in Lithuania and Latvia, which would fully satisfy the needs of domestic consumption. Therefore, prices are fluctuating and are higher than in the neighbouring Estonia. "The situation should change once NordBalt and LitPol Link electricity links connecting Lithuania's electricity market with Sweden and Poland are operational," said Bethers.
In addition, summer is the time when the Baltic region's hydro-electric power plants undergo maintenance, thus, as some of them stop working or are operational at lower capacities, electricity price soars.
In Estonia the average electricity price was lower in July compared with other Baltic countries and stood at LTL 0.152 (EUR 0.044) per kilowatt hour. According to Enefit, Estonia's electricity price was identical to Finnish ones 95% of the time. That was mostly affected by EstLink-2 electricity link with Finland.
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