“Elektrum Lietuva”: the wholesale price of electricity in Lithuania decreased by 34% during the week.

Last week, the wholesale price of electricity in Lithuania and other Baltic countries decreased by 34 percent. and averaged 55.51 Eur/MWh.

Prices in other European countries also fell slightly: in Poland, the average wholesale price of electricity reached 68.14 EUR/MWh, in Germany – 60.72 EUR/MWh, in the Netherlands – 61.37 EUR/MWh.

At that time, the prices offered by independent electricity suppliers to Lithuanian residents increased slightly. Elektrum Lietuva’s lowest fixed price was 22.95 ct/kWh, fixing it for 6 months.

“88% of the electricity prices in the Baltic countries were influenced by increased wind energy production, as well as 28 percent. increased solar and hydropower production compared to the previous week. At that time, energy flows to the Baltic countries decreased by 47 percent,” says Mantas Kavaliauskas, product development manager of the energy solutions company “Elektrum Lietuva”.

The average price of the Nord Pool electricity exchange decreased by 1 percent compared to the previous week. up to 54.47 EUR/MWh.

According to M. Kavaliauskas, the decrease in electricity prices in the Nord Pool region was influenced by 8 percent. lower energy consumption due to warmer than usual weather and longer Easter holidays. However, a more significant price drop in the region was limited by 23 percent. reduced wind energy production in Nordic countries.

Electricity consumption in the Nord Pool region decreased to 7,905 GWh in the previous week, while production also fell slightly to 8,358 GWh.

In Lithuania, consumption decreased, production increased

In the Baltic countries, electricity consumption fell by 10 percent during the week. and reached 484 GWh. In Lithuania and Latvia, electricity consumption decreased by 9 percent each. and reached 218 GWh and 117 GWh, respectively. Electricity consumption in Estonia is 11 percent. less than the previous week – 149 GWh.

The volume of total production of electricity in the Baltic countries grew by 18 percent last week. up to 423 GWh. 48% of electricity is produced in Lithuania. more than the previous week – 155 GWh, production in Latvia did not change and reached 172 GWh, in Estonia it increased by 19 percent. up to 96 GWh.

During the week, all three Baltic countries together produced 87 percent. they require electricity. 71% was produced in Lithuania, 147% in Latvia, 65% in Estonia. the country needs electricity.

About the company:

“Elektrum Lietuva” is a subsidiary company of Latvenergo (Latvia), the largest green electricity producer in the Baltic States, providing various energy solutions to household and business customers in Lithuania. More than 70 percent Electricity produced by “Latvenergo” comes from renewable sources. The company “Elektrum Lietuva” currently supplies electricity to more than 12 thousand companies, more than 200 thousand chose the company as their electricity supplier. households, the company supplies gas to almost 800 companies, has installed over 2,000 solar power plants and six solar parks (29.6 MW). New solar and wind parks with a total capacity of more than 300 MW are under development.