Electricity prices in Latvia rose by 40 percent in a week, becoming more expensive than in Lithuania and Estonia 0 16

In Lithuania, the price of electricity was €69.36 per MWh, which is 32% higher than the week before, while in Estonia it was €73.49 per MWh, which is 63% above the previous figure.

Last week, wholesale electricity prices in the Nordic and Baltic countries significantly increased due to a sharp rise in electricity consumption. The increase in demand was driven by the coldest winter week of the season, while the increase in production at wind power plants was insufficient to compensate for the increased consumption and curb price growth.

Total electricity consumption in the Baltics increased by 7% to 582 GWh. In Latvia, consumption was 2% higher than the week before, at 141 GWh. In Estonia, consumption rose by 12% to 190 GWh. In Lithuania, 251 GWh of electricity was consumed, which is 7% more compared to the previous week.

At the same time, electricity production in Latvia was 14% lower than the previous week, at 85 GWh. In Estonia, production decreased by 14%, amounting to 65 GWh. Meanwhile, in Lithuania, electricity production increased by 24% to reach 230 GWh.

Last week, the ratio of production to consumption was 60% in Latvia, 34% in Estonia, and 91% in Lithuania. Overall, the Baltic countries produced 65% of the electricity consumed in the region.