In Lithuania, the price also decreased by 31% to 121.66 euros per MWh, while in Estonia the price was 120.69 euros per MWh, a decrease of 19%. The price of the Nord Pool system decreased by 28% to 94.33 euros per MWh.
The high development of wind farms in the Nord Pool region, which increased by 9% compared to the previous week, continued to contribute to the decline in electricity prices.
Electricity consumption in the Nord Pool region has decreased by 4% and in the Baltics by 2%, contributing to lower electricity prices. In addition, there has been a downward trend in energy prices over the past week. Prices in the Baltics were affected by a 93% increase in energy flows from Sweden’s SE4 sales area, although energy flows from Finland decreased by 30% compared to the previous week’s data.
Latvenergo explains that the annual maintenance season of the Nordic nuclear power plants continues, and the share of available capacity last week was 74% of the total installed capacity.
In the Nord Pool region, electricity consumption fell to 6947 gigawatt hours (GWh) and production fell to 7426 GWh.
Compared to the previous week, the total electricity consumption in the Baltic States decreased by 2% to 483 GWh. 125 GWh of electricity was consumed in Latvia, which is 2% more than a week earlier. In Estonia, electricity consumption remained at the previous week’s level and was 149 GWh. In Lithuania, consumption decreased by 5% to 209 GWh.
In the Baltics, total electricity generation decreased by 5%, producing 303 GWh. In Latvia, electricity generation fell by 33% to 83 GWh. Meanwhile, production volumes in Estonia increased by 10% to 142 GWh. In Lithuania, electricity generation was 78 GWh, which was 19% more than in the previous week.
Last week, the development volume against consumption in Latvia was 66%, in Estonia – 95%, but in Lithuania – 37%. The Baltic States generated 63% of the electricity consumed in the region.