The average electricity price in Latvia rose by 60% last week, reaching €85.89 per MWh, LETA reported from "Latvenergo".
In Lithuania, the average electricity price rose by 61% last week, reaching €86.27 per MWh, while in Estonia it increased by 47% to €85.54 per MWh.
"Latvenergo" notes that wholesale electricity prices in the Scandinavian region and the Baltics sharply increased last week. The price rise was mainly due to a significant reduction in the output of wind and solar power plants in the "Nord Pool" region as a whole. Despite the fact that solar energy production continued to grow in the Baltics, its impact on the overall price dynamics was limited.
The price in the "Nord Pool" system rose to €97.42 per MWh, which is 67% higher than the previous week.
Average electricity prices also increased last week in other European countries. In Germany, the price rose to €109.09 per MWh - a 50% increase compared to the previous week, while in Poland it increased by 32% to €105.94 per MWh.
In the "Nord Pool" region, wind energy production fell by 44% last week, while solar production decreased by 27%. At the same time, in the Baltic countries, wind energy production dropped by 38%, while solar production increased by 17%.
Nuclear power generation in Northern Europe decreased by 3% to 68% last week.
In the "Nord Pool" region, electricity consumption amounted to 7,640 GWh, while electricity production was 7,804 GWh.
Total electricity consumption in the Baltic countries decreased by 5% to 472 GWh. In Latvia, electricity consumption remained stable at 133 GWh. In Estonia, consumption fell by 10% to 139 GWh. Lithuania consumed 201 GWh of electricity, which is 5% less than the previous week.
Electricity production in the Baltic countries decreased by 11% to 451 GWh. In Latvia, electricity generation was 7% lower than the previous week, at 162 GWh. In Estonia, production remained unchanged at 104 GWh, while in Lithuania it decreased by 19% to 184 GWh.
Last week, the ratio of production to consumption in Latvia was 122%, in Estonia it was 75%, and in Lithuania it was 92%. The Baltic countries produced 95% of the electricity consumed in the region.
