In March 2024, compared with February 2024, the wholesale price of electricity decreased by 9% in Lithuania to EUR 68.29/MWh. In Latvia and Estonia, electricity prices decreased by 10% in a month to EUR 68.26/MWh.
electricity prices
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Average wholesale electricity price decreased by 11% in Lithuania last week and was the lowest this year, shows data published by Litgrid, Lithuania’s electricity transmission system operator.
In February 2024, compared with January 2024, wholesale electricity price in Lithuania was by 36% lower and stood at EUR 74.78/MWh. Electricity price in Latvia dropped by 36% to EUR 74.78/MWh, while in Estonia it dropped by 40% to EUR 75.52/MWh.
The Baltic States should join their bidding zones to boost competition in the electricity supply market, says Lithuania’s energy regulator.
On 29 January-4 February, compared with the previous week, the wholesale price of electricity in Lithuania, Latvia and Estonia fell by 21% and stood at EUR 64.4/MWh on average.
On 8-14 January, compared with the previous week, the wholesale electricity price in Lithuania dropped by 49% and on average was EUR 103.01/MWh. In Latvia, electricity price decreased by 49% as well, while in Estonia it slumped 58% and in both countries stood at EUR 102.73/MWh.
Electricity consumption and prices decreased in Lithuania in the second half of December 2023, whereas cheaper electricity generated by wind farms replaced electricity generated by thermal power plants, reports electricity transmission system operator Litgrid.
On 30 October-5 November, compared with the previous week, wholesale electricity prices in Lithuania, Latvia and Estonia dropped by 55% to EUR 58.26/MWh.
On 23-29 October, compared with the previous week, electricity price in Lithuania, Latvia and Estonia rose by 49% to EUR 130.85/MWh.
The capital of Lithuania has started dimming or, in some places, even switching off street and public space lights due to a drastic rise in electricity prices.
In 2016, the average price for electricity in the Lithuanian bidding area of Nord Pool was the lowest in the history of the exchange: EUR 36.5 per megawatt hour (MWh). The price was 13% lower compared to 2015 and 25% lower than in 2014 and 2013, LitGrid AB informed in its press release today.
Electricity prices for household users in Lithuania will decline by an average of 5 percent next year, the National Control Commission for Prices and Energy said on Friday.
Lithuania's electricity prices are falling fast with rising electricity producer competition in the Baltic region. To read this article, try a €5.99 monthly subscription by clicking here.
At the end of February, electricity prices across the Baltic states moved in different directions. Electricity prices fell by 2 percent in Lithuania and Latvia while rising by 4 percent in Estonia.
