Average electricity price on a rise in Latvia

Last week the average electricity price in Latvia went up by 18% and was 147.88 EUR/MWh, as reported by Latvenergo representatives.
Last week all Nord Poll trade regions saw an increase of prices. The price for electricity was 147.88 EUR/MWh in all Baltic States, indicating 18% growth when compared to the week prior.

At the same time, the average weekly price in Nord Pool system went up by 34%, reaching an average of 102.27 EUR/MWh.

In Scandinavia, Sweden’s fourth trade region, which connects to Lithuania, the growth of electricity price was 75%, reaching 130.42 EUR/MWh. In Denmark price growth was 60%, reaching 131.68 EUR/MWh. In Norway growth was 32%, reaching 103.02 EUR/MWh.
The situation was similar in Central European countries – in Poland the average price was 129.37 EUR/MWh, in Germany it was 131.82 EUR/MWh, and in France the average price was 132.37 EUR/MWh.
Last week electricity price was mainly affected by air temperature, which was lower than usual and which caused consumed electricity volumes to go up – in Nord Pool region consumption went up by 9%.
Wind energy generation went down – in Nordic countries it was 21% lower than a year prior. In Baltic States it went down by 56%. In Nordic countries the share of available capacity of nuclear power plants continued to decline, reaching 87% of the total power capacity. At the same time a more rapid price growth in Baltic States was limited by a 10% bigger influx of energy to the Baltics when compared to the week prior.

Electricity consumption in Nord Pool region was 10 337 GWh, and production volumes were 10 305 GWh.

The overall electricity consumption in Baltic States went up 5%, reaching 628 GWh. In Latvia the volume of consumed electricity was 6% higher than a week prior – 150 GWh. In Estonia and Lithuania it went up by 5% – to 278 GWh in Lithuania and 200 GWh in Estonia.
Last week electricity generation in Baltic States went down by 2%, reaching a total of 347 GWh. In Latvia electricity generation volume was 11% below last week’s volume – 134 GWh. In Lithuania electricity generation went down by 10%, reaching 96 GWh. In Estonia electricity generation went up by 21%, reaching 116 GWh.
Also read: Latvia’s current payment account deficit in nine months – 4.8% of GDP
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