At the same time, the price of electricity in Lithuania was 120.11 euros per MWh, while in Estonia – 120.05 euros per MWh.
On the other hand, comparing these prices with the same period last year, there is a decrease of 8%.
Meanwhile, the price of the “Nord Pool” system decreased by 47% – to 12.16 euros per MWh. In Poland, the average electricity price was 114.74 euros per MWh, and in Germany – 100.58 euros per MWh.
In the Baltic countries, the increase in prices was mainly determined by the disconnection of the Swedish-Lithuanian interstate connection “NordBalt” due to the annual maintenance work, which lasted the entire past week. Consequently, energy flows to the Baltic States decreased by 23%, and in addition, a 5% higher electricity consumption was observed.
In Nordic trade areas, prices were mainly influenced by the 21% higher development of wind farms, as well as high water inflow in the region, which has a positive effect on the filling level of hydro reservoirs.
At the same time, electricity consumption in the “Nord Pool” region was 7,674 gigawatt hours (GWh), while electricity production volumes were 8,419 GWh.
The total electricity consumption in the Baltics increased by 5% and was 517 GWh. The amount of electricity consumed in Latvia was 6% higher than the week before – 128 GWh. In Estonia, consumption increased by 1% – up to 151 GWh. 238 GWh of electricity was consumed in Lithuania, which is an increase of 6% compared to the previous week.
Electricity production in the Baltic States increased by 22%, and a total of 313 GWh was produced. Electricity generation in Latvia was 13% higher compared to the previous week – 36 GWh. Meanwhile, in Estonia, development increased by 22%, with 105 GWh produced. In Lithuania, electricity production increased by 25% – up to 172 GWh.
In the past week, the volume of production versus consumption in Latvia was 28%, in Estonia – 69%, and in Lithuania – 73%. 61% of the electricity consumed in the region was produced in the Baltic States.
“Latvenergo” representatives point out that price fluctuations in “Nord Pool” directly affect only those customers who have concluded a variable price contract with their electricity dealer, based on the price of electricity on the stock exchange.
Ption in the Baltic region showed a notable fluctuation due to various factors. In Lithuania, electricity was priced at 120.11 euros per MWh, slightly higher than Estonia’s 120.05 euros per MWh. However, both countries experienced an 8% decrease in electricity prices compared to the same period last year.
The “Nord Pool” system saw a significant price drop of 47%, now standing at just 12.16 euros per MWh. In contrast, electricity prices were lower in neighboring Poland at 114.74 euros per MWh and Germany at 100.58 euros per MWh.
The price increases in the Baltic countries were largely attributed to the disconnection of the Swedish-Lithuanian interstate connection “NordBalt” for annual maintenance, which resulted in a 23% reduction in energy flows to the Baltics. Additionally, a 5% rise in electricity consumption was noted during this period.
Meanwhile, in Nordic trade areas, the rise in prices was influenced by a 21% increase in wind farm generation and high water inflow, positively impacting hydro reservoir levels. electricity consumption in the “Nord Pool” region reached 7,674 gigawatt hours (GWh), while production levels were greater at 8,419 GWh.
The content provides an overview of electricity prices and consumption trends in the Baltic region and surrounding areas over a recent period. Here’s a summary of the key points:
- Current Electricity Prices:
– Lithuania: €120.11 per MWh
– Estonia: €120.05 per MWh
– Comparison to the previous year shows an overall decrease of 8% in prices.
- Market Trends:
– The “Nord Pool” system’s price has decreased significantly by 47%, now sitting at €12.16 per MWh.
– Average electricity prices in Poland and Germany are €114.74 and €100.58 per MWh, respectively.
- Price Influences:
– The disconnection of the NordBalt connection, due to maintenance, has reduced energy flow to the Baltic States by 23%. This coincided with a 5% rise in electricity consumption in the region.
- Production and Consumption:
– In the “Nord Pool” area, electricity consumption was 7,674 GWh and production was higher at 8,419 GWh.
– In the Baltic States, total electricity consumption rose by 5% to 517 GWh, with Latvia seeing a 6% weekly increase, Estonia a 1% increase, and Lithuania a 6% increase.
– Electricity production in the Baltic States surged by 22% to 313 GWh, with Latvia producing 36 GWh (up 13%), Estonia 105 GWh (up 22%), and Lithuania 172 GWh (up 25%).
- Balancing Production with Consumption:
– The production versus consumption ratios were: Latvia (28%), Estonia (69%), and Lithuania (73%). 61% of the electricity consumed in the region was locally produced.
- Variable Pricing Impact:
– Fluctuations in the Nord Pool prices primarily affect customers with variable pricing contracts linked to the stock exchange.
This data reflects regional energy dynamics, highlighting how maintenance and consumption patterns influence pricing and production levels in the electricity market.