Electricity Prices Remain Stable in Lithuania
The average wholesale weekly price of electricity in Lithuania remained unchanged from the previous week, settling at 96 euros per megawatt hour (MWh) on the “Nord Pool” exchange during the period of August 5-11. Similarly, neighboring countries Latvia and Estonia also recorded the same average price as Lithuania.
The slight decrease in local electricity production in Lithuania due to calm winds during the first half of the week was compensated by increased imports from Poland. However, wind farms regained their generating capacity in the second half of the week, leading to negative prices due to lower electricity demand.
On certain days during the weekend, the exchange witnessed exceptionally low prices, with some hours even reaching 0 EUR/MWh or negative values. Aistė Krasauskienė, head of the Market Development Department of Litgrid, attributed this anomaly to the free or low-priced electricity available during these hours.
Despite the slight decline in local production, electricity consumption in Lithuania increased by 4% from 211 to 220 GWh during the week. Local power plants accounted for 62% of the country’s electricity consumption.
137 GWh of electricity was generated in Lithuania during the week, representing a 10% decrease from the previous week. Solar power plants contributed the most (34%), followed by wind farms (29%), hydroelectric power plants (13%), thermal power plants (15%), and other sources (9%).
Import dependency remained high, with 44% of Lithuania’s electricity needs being met through imports. The country imported 69% of its electricity through the NordBalt connection and 31% from Poland. The total flow of electricity exports decreased by 11%, with 88% going to Latvia and 12% to Poland.