Dovilė Morkvėnaitė, head of the electricity wholesale department of Ignitis, points out that the price of a kilowatt hour will reach 0.661 Eur/kWh (60.61 ct/kWh) with VAT (500.90 Eur/MWh without VAT) in the most expensive hour.
“We note that due to the expected weak generation of wind in wind farms, due to the fact that energy is no longer generated in solar farms in the evening hours, and due to the heat, the demand for electricity for cooling has increased significantly, the price of electricity is higher than usual on the Nord Pool exchange. On Tuesday evening, starting from 18:00, electricity will be more expensive on the exchange. Although in the evening hours, between 18:00 and 22:00, electricity prices are higher on the exchange, but tomorrow from 20:00. until 9 p.m. the price of electricity increases in particular – up to 0.661 EUR/kWh with VAT (500.90 EUR/MWh without VAT). We recommend that customers, especially those who have chosen an hourly plan linked to the exchange, refuse unnecessary electricity consumption during the most expensive hours”, commented D. Morkvėnaitė.
According to the representative of “Ignitis”, the main reasons for the jump in electricity prices are hot weather and a strong increase in the need for electricity for cooling, as there is no more generation in solar power plants in the evening hours, and weak wind generation is also forecast for tomorrow.
Producer consumers use the electricity produced in their power plants during the day, but in the evening, when the sun is no longer there, they start taking electricity from the grid, which increases the demand, which also affects the price of electricity on the stock exchange. What’s more, the Estlink connection between Estonia and Finland is currently being repaired, as a result of which cheaper electricity cannot reach the Baltic countries. Repairs to the link are expected to be completed ahead of schedule on September 6.
Household users can find out hourly electricity prices and organize their consumption accordingly by installing the free “EnergySmart” app on their smartphones. For the convenience of customers, Ignitis, both in this application and in the graphs on the website, displays the prices of the Nord Pool exchange already adjusted to the Lithuanian time zone and with added VAT.
This helps the household user to know exactly and not get confused at which hour, which kilowatt-hour price will be relevant in Lithuania. The app also allows household users to monitor and analyze total and individual devices’ electricity consumption, and even compare it to the average consumption of similar households, thus increasing the energy efficiency of their home.
Business customers can find out hourly electricity prices in the graphs on the website, which show Nord Pool exchange prices already adjusted to the Lithuanian time zone without added VAT.
2024-09-05 00:46:12