2023-04-17 15:30:16
Last week, electricity prices decreased in all sales areas of Nord Pool, AS “Latvenergo” informs.
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In Latvia and Estonia, the weekly average price of electricity fell by 54% and was 40.19 EUR/MWh, reaching 0 EUR/MWh in some hours. In Lithuania, the average price of electricity was 42.52 EUR/MWh, which is a drop of 51% compared to the previous week’s data. Nord Pool’s weekly system price decreased by 38% to an average of 61.58 EUR/MWh.
The decrease in electricity prices in the Nord Pool region was mainly facilitated by an 84% increase in the development of wind power plants, approximately 6% more availability of nuclear power plants, 4% lower electricity consumption compared to the previous week, as well as a decrease in the prices of energy resources (except crude oil) and carbon emissions quotas. In addition, in the Baltics, the reduction of prices continued to be influenced by the high development of renewable energy resources in the region, as well as the decrease in electricity consumption by 8%. The generation of wind power plants in the Baltics increased by 48% compared to the previous week’s data.
In the Nord Pool region, electricity consumption was 7,539 GWh, and production volumes were 8,121 GWh.
Total electricity consumption in the Baltic States decreased by 8% to 464 GWh. The amount of electricity consumed in Latvia was 118 GWh, which is 4% less than the week before. In Estonia, electricity consumption fell by 9% to 141 GWh. In Lithuania, consumption was 205 GWh, which fell by 10% compared to the week before.
Last week, electricity generation in the Baltics remained at the level of the previous week, and a total of 398 GWh was produced. In Latvia, the amount of electricity generation decreased by 3% to 247 GWh. In Estonia, electricity generation decreased by 8% and was 67 GWh. Meanwhile, in Lithuania, production volumes increased by 15%, and 84 GWh were produced.
In the past week, the volume of production versus consumption in Latvia was 209%, in Estonia – 48%, and in Lithuania – 41%. 86% of the electricity consumed in the region was produced in the Baltic States.
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