In November, the volume of electricity produced in Latvia and fed into the grid increased by 46% compared to October, reaching 491 gigawatt-hours (GWh), which is the highest generation volume since March of this year.
According to Augstsprieguma tīkls, electricity production in November increased in almost all types of generation, except for solar power plants. The most rapid growth was recorded at hydroelectric power plants, where a 113% increase was observed compared to October due to higher water inflow in rivers. Electricity production at natural gas-fired stations also significantly increased by 47%, while generation at wind power plants rose by 31%. Thus, local electricity production was able to meet 75.67% of the total electricity consumption in the country.
In November, average electricity prices in the Baltic countries rose by an average of 6% compared to October, reflecting the overall increase in electricity prices in Europe. The average electricity price in Latvia and Lithuania increased by 5.6% to reach €110.94 per MWh, while in Estonia, the price rose by 7% to €95.93 per MWh.
The price increase in the Baltic countries was mainly due to lower air temperatures, which contributed to an increase in electricity consumption. In November, a clear direct correlation was observed between the volumes of electricity produced at wind power plants and electricity prices: on days when wind generation was low, prices reached pronounced peaks, while during periods of high production, they significantly decreased. A similar trend was observed on sunny days—when production at solar power plants increased, electricity prices during midday hours were significantly lower than during cloudy periods.
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