In October, with the start of the heating season and an increase in electricity consumption, as well as a decrease in production at solar power plants, the average electricity price in the trading zone of Latvia was €105.06 per megawatt-hour.
According to the company Augstsprieguma tikls, compared to September, the price has risen by a quarter, and compared to October 2024, it is 15% higher.
In October, the average electricity price in Latvia and Lithuania increased by 25%, reaching €105.06 per megawatt-hour, while in Estonia, the price rose by 10%, amounting to €89.67 per megawatt-hour.
The price increase in the Baltic countries was mainly due to seasonal changes: with the onset of autumn, the volume of electricity produced by solar power plants decreased. In Estonia, the increase was less significant, as maintenance work on the power lines in the country limited the export of cheaper electricity to Latvia, causing the markets of Latvia and Lithuania to rely more on more expensive sources of generation during peak consumption hours. In Estonia, however, during peak consumption hours, demand could be met through cheaper imports from Finland.
In October, electricity imports to the Baltic countries continued to grow, increasing by 12.6% compared to September. The most rapid growth was recorded in imports from Finland — by 37.8%. Imports from Poland increased by 19%, but supplies from Sweden decreased by 19%.
It should be noted that changes in electricity prices directly affect only those consumers who have chosen tariffs linked to the market price.
