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On 25-31 July, compared with the previous week, electricity prices in Lithuania and Latvia increased by 7% to EUR 341.71 per MWh. In Estonia, the price of electricity increased by 13% to EUR 252.05 per MWh.
Electricity price up by 7% in last week of July
© Shutterstock

According to independent electricity supplier, Elektrum Lietuva, electricity prices in the Baltic States increased because of the rapid growth of the cost of fuels. Natural gas prices last week rose by 24% to EUR 193.98 per MWh.

The average electricity price on the Nord Pool power market decreased by 29% to EUR 106.54 per MWh last week, mostly because of 27% greater electricity generation by wind farms. In addition, nuclear power capacity in the Nordic countries rose to 85% of the full installed capacity.
On 25-31 July, electricity consumption in the Nord Pool region stood at 6,210 GWh, while electricity generation was 6,888 GWh.

Last week, aggregate electricity consumption in the Baltic States decreased by 1% to 462 GWh. Lithuania consumed 1% less electricity or 221 GWh. In Latvia, electricity consumption remained stable at 117 GWh. In Estonia, it decreased by 1% to 124 GWh.

Electricity generation in the Baltic countries on aggregate decreased by 13% to 214 GWh last week. Lithuania generated by 12% less electricity or 79 GWh, Latvia 10% less or 34 GWh, and Estonia by 14% less or 101 GWh.

Last week, electricity generation in the Baltic States satisfied 46% of the local consumption demand. Electricity generation in Lithuania satisfied 36% of the country’s electricity consumption demand, in Latvia – 29% and in Estonia – 82%.

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