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Wednesday, November 29, 2023

The price of electricity increased in Latvia last week

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Electric. Explanatory picture. Photograph: Pixabay

Representatives of JSC “Latvenergo” reported that the average price of electricity in Latvia increased by 12% last week and amounted to 142.28 euros per megawatt hour (MWh).

Both rising and falling price trends were observed in the “Nord Pool” trading areas last week. Among them, the average electricity price in Lithuania increased by 12% to 142.44 euros per MWh. In Estonia, the price of electricity increased by 10% compared to the previous week, reaching an average of 135.24 euros per MWh.

Meanwhile, the “Nord Pool” weekly system price increased by 16% to 20.15 euros per MWh. Last week the price of electricity in Poland was on average 115.09 Euros per MWh, in Germany it was 115.1 Euros per MWh and in Austria it was 112.97 Euros per MWh.

Last week, the increase in the price of the Nord Pool system was mainly due to 7% lower wind development; This wind dropped sharply in the middle of the week and increased again over the weekend. Additionally, electricity consumption in the “Nord Pool” region increased by 3% compared to the previous week.

The upward trend of electricity prices in the Baltic States continued to be affected by the unplanned interruption of the “NordBalt” power transmission link, with energy flows from Finland decreasing by 8% and flows from Poland by 15%. data from the previous week. In addition, a price increase trend was observed in the energy products market.

Total electricity consumption in the Baltic States increased by 1% to 449 GWh. The amount of electricity consumed in Latvia remained at the same level as last week, reaching 111 GWh. Consumption in Estonia was 1% lower than in the previous week, at 128 GWh. On the other hand, electricity consumption in Lithuania increased by 2% compared to the previous week, reaching 210 GWh.

At the same time, electricity production in the Baltics increased by 11 percent last week, reaching 258 GWh. Electricity production in Latvia decreased by 7% to 61 GWh. Meanwhile, electricity production in Estonia was 1% less than a week ago, or 80 GWh, while in Lithuania, production volumes increased by 35% to 117 GWh.

Last week, the ratio of development to consumption in Latvia was 55%, in Estonia 63% and in Lithuania 56%. 58 percent of the electricity consumed in the region was produced in the Baltic countries.

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Source: Tv Net

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