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Thursday, June 8, 2023

Average electricity price in the Baltic fell 51% last week

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Electric bulb. Descriptive image. Photograph: Evija Trifanova/LETA

According to AS “Latvenergo”, the average electricity price in the Baltic countries fell by 51% last week.

Last week, electricity prices fell in all commercial areas of the “North Pool”.

The price of the “Nord Pool” system decreased by 51% to an average of 154.51 Euros per MWh.

The main reason for the decrease in electricity prices in the “North Pool” area was 10% lower electricity demand due to longer holidays. In addition, the 8% increase in the development of wind power plants in the “North Pool” region, the increase in the availability of nuclear power plants and the decrease in energy product prices were reflected in electricity prices. Average electricity prices for the Baltic week were affected by 98% higher energy flows from Sweden’s SE4 business zone, as Sweden’s Oskarshamn third reactor was up and running, while flow from Finland was 2% lower than the previous week.

Total electricity consumption in the Baltic States decreased by 9% to 557 GWh. Electricity consumption in Latvia decreased by 8% to 135 GWh. The amount of electricity consumed in Estonia decreased by 11% compared to the previous week and became 173 GWh, while consumption in Lithuania decreased by 8% to 249 GWh.

Electricity production in the Baltic States fell 26% and 352 GWh was produced. Electricity generation in Latvia decreased by 29% to 116 GWh. Electricity generation in Estonia decreased by 11% to 155 GWh. Production volumes in Lithuania fell 40% to 81 GWh.

Source: Tv Net

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