The average market price for electricity in Latvia last week increased by 15% compared to the previous week, amounting to €91.82 per megawatt-hour (MWh), reported "Latvenergo".
Wholesale electricity prices have risen significantly, mainly due to a decrease in generation from wind power plants and an increase in energy demand.
Wind energy generation in the "Nord Pool" region decreased by 36% compared to the previous week. The decline in solar power generation continued, dropping by another 28%. Meanwhile, the share of available capacity from nuclear power plants in the Nordic countries increased by two percentage points, reaching 76%.
The main factor behind the price increase was the significantly lower generation of wind energy, which, combined with rising energy consumption and shorter daylight hours, contributed to higher market prices.
Total electricity consumption in the Baltic countries increased by 1%, amounting to 529 GWh. In Latvia, the volume of electricity consumed remained at the level of the previous week - 138 GWh.
At the same time, electricity generation in the Baltic countries decreased by 11%, to 310 GWh. In Latvia, production increased by 33%, to 78 GWh.
Last week, generation in Latvia covered 57% of consumption, in Estonia - 46%, in Lithuania - 68%.
