According to independent electricity producer Elektrum Lietuva, electricity price growth in December was affected by 4% lower electricity flow to the Baltic States. The main reason behind this was damage to Estlink 2 subsea power interconnection linking Estonia and Finland. Finnish electricity transmission system operator announced that repairs would last until 1 August.
At the same time, electricity price growth was limited by the 16% increase in electricity generation, while electricity consumption rose by just 3%.
In December, the average electricity price on the Nord Pool power market decreased by 14% to EUR 31.94/MWh.
Electricity consumption in the Baltic States totalled 2,545 GWh in December, a 6% increase compared with November. Electricity consumption in Lithuania rose by 6% to 1,148 GWh, in Latvia by 5% to 620 GWh, while in Estonia by 8% to 777 GWh.
Electricity generation in the Baltic countries increased by 16% in December to 1,611 GWh. Lithuania generated by 19% more electricity or 791 GWh in total, Latvia by 7% more or 347 GWh, while Estonia by 16% more or 472 GWh.
In December 2024, the Baltic countries on aggregate generated 63% of electricity needed for consumption. Electricity generation in Lithuania satisfied 69% of its electricity consumption demand, compared with 56% in Latvia and 61% in Estonia.