The average market price for electricity last week increased by 7% compared to the previous week in Latvia and Lithuania, amounting to €98.5 per megawatt-hour (MWh), reported the company Latvenergo.
At the same time, in Estonia, the price of electricity decreased by 1%, reaching €83.84 per MWh.
Last week, the electricity market saw opposite trends between trading zones. In the Scandinavian countries, prices fell due to an increase in wind power generation, while in the Baltic region, network capacity constraints prevented price alignment between countries, leading to price increases in Latvia and Lithuania, while in Estonia, prices decreased.
Wind power generation in the "Nord Pool" region increased by 12% compared to the previous week. Continuing its decline, solar generation decreased by another 22%.
Meanwhile, in the Northern countries, the availability of nuclear power plants increased by 9 percentage points, reaching 85%. The increase in generation was mainly due to the restart of the OKG AES Oskarshamn 3 reactor after more than seven months of maintenance.
In Latvia, consumption rose by 3% compared to the previous week, reaching 141 GWh. In turn, energy generation increased by 30%, reaching 101 GWh.
Thus, the volume of generation in Latvia accounted for only 71% of domestic consumption. However, the situation is even worse in Estonia and Lithuania, where only 45% of consumed electricity was produced. The rest was imported from abroad.
