The average market electricity price in Latvia and Lithuania decreased by 39% last week compared to the previous week, amounting to €79.61 per megawatt-hour, reported JSC "Latvenergo."
In Estonia, the electricity price decreased by 29% to €77.74 per megawatt-hour.
Last week, due to a significant increase in production at wind power plants, wholesale electricity prices in the "Nord Pool" region fell sharply to €34.83 per megawatt-hour, which is 28% lower than the previous week.
Electricity production at wind power plants in the "Nord Pool" region increased by 17%, including a 71% rise in the Baltic countries, reaching the highest level since June of this year. Thus, in both the Baltics and Scandinavia, the decrease in electricity prices was primarily due to higher wind energy production.
Electricity consumption in the "Nord Pool" region last week amounted to 8012 gigawatt-hours, while electricity production was 8238 gigawatt-hours.
Total electricity consumption in the Baltic countries increased by 1% to 522 gigawatt-hours. In Latvia, consumption was 3% higher than the previous week, at 137 gigawatt-hours, in Estonia it remained at the previous week's level of 154 gigawatt-hours, and in Lithuania it increased by 2% to 232 gigawatt-hours.
Electricity production in the Baltic countries increased by 7% to 336 gigawatt-hours. In Latvia, production decreased by 23% compared to the previous week, amounting to 55 gigawatt-hours, in Estonia it decreased by 12% to 72 gigawatt-hours, while in Lithuania electricity production increased by 30% to 209 gigawatt-hours.
Overall, 64% of the electricity consumed in the region was produced in the Baltic countries.
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