Average wholesale electricity prices jumped by 62.5% during the week, but biofuel is again the cheapest in our country

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Over the past week, wholesale electricity prices in Lithuania increased by 62.5 percent, due to a decrease in the generation of renewable resources power plants in the region, as well as due to higher consumption and the failure of the NordBalt connection. TTF natural gas rose in price by 4 percent, but the price of biofuel in Lithuania fell to 17.21 EUR/MWh and became the lowest in the Baltic States. Brent oil on the market fell by 2.2 percent during the week, and both diesel and gasoline became cheaper in our country.

May 6-12 average wholesale electricity prices in Lithuania increased by 62.5 percent. – from 50.1 Eur/MWh to 81.4 Eur/MWh. In Latvia and Estonia, the price of electricity also increased by 62.5 percent. – up to 81.4 Eur/MWh, in SE 4 zone of Sweden – 13.7%, from 46.1 Eur/MWh to 52.5 Eur/MWh, in Germany – 18.4%, from 56.9 Eur/MWh up to 67.3 EUR/MWh. In Poland – 36 percent, from 66.5 EUR/MWh to 90.4 EUR/MWh. At that time, wholesale electricity prices in Finland decreased by 8.8 percent. – from 51.1 Eur/MWh to 46.6 Eur/MWh.

Observing the latest electricity price futures, it can be seen that electricity prices in Germany are expected to be 65-115 EUR/MWh in the coming years, and in Northern Europe – in the range of 30-70 EUR/MWh. During the week under review, Lithuanian wholesale electricity prices remained closer to German prices.

In Lithuania last week, compared to the previous week, the demand for electricity increased by 8.8 percent, up to 202 GWh.

The total electricity production in our country on May 6-12, compared to the previous week, decreased by 7.4 percent. and reached 147.9 GWh.

Wind power plants produced the most electricity – 54.7 GWh, but it is 16 percent. less than the previous week.

Electricity production in solar power plants reached 43.36 GWh – 8 percent less than the previous week. Hydroelectric plants produced 21.3 GWh – 4 percent. less than a week ago.

Even 51 percent more than the previous week, electricity was produced by thermal power plants – 20.3 GWh.

Natural gas continues to rise in price. Average prices at the TTF outlet in the Netherlands compared to the previous week, increased by 4 percent. – from 29.4 Eur/MWh to 30.6 Eur/MWh. According to natural gas price futures, natural gas prices for the coming year are predicted to be in the range of 30-36 EUR/MWh.

European gas storages are currently filled to about 63.6 percent., with 63.3 percent filled last week, compared to 62.8 percent full a year ago.

Inčukalnis gas storage is now about 49 percent full., was about 47.8 percent a week ago, and about 41 percent in the same period a year ago.

Under review May 6-10. during the period, natural gas flows through the Klaipėda LNG terminal did not flow due to the ongoing repair work of the ship-storage. In the period under review, 92.6 GWh of natural gas was received from Poland (63.2 GWh in the previous week), 106.7 GWh of natural gas from Latvia (12.2 GWh in the previous week). 184.5 GWh of natural gas was consumed in Lithuania (179.2 GWh in the previous week).

Biofuel prices in Lithuania were 1.5 percent during the considered week. lower than the previous week and reached 17.21 Eur/MWh. At the same time last year, biofuel cost EUR 22.70/MWh in Lithuania. Currently, biofuel in Lithuania is again the cheapest among the Baltic countries: in Latvia, according to the new data, it costs 17.94 Eur/MWh, in Estonia – 19.31 Eur/MWh.

Average for the week in question The price of Brent oil reached 83.4 USD/bbl, which is 2.2 percent. lower price than the previous week, when it was 85.3 USD/bbl. Looking at the latest Brent oil futures, prices for the coming year are expected to be similar to what was estimated a week ago ($78-83/bbl).

During the period under review, the average price of gasoline in the Baltic States and neighboring countries decreased by 1-2.7 percent, with the exception of Poland, where the average price increased by 0.8 percent.

Average diesel prices decreased by 0.2-2.6 percent in all compared countries, except Poland, where the average price increased by 0.5 percent.

In our country, diesel became cheaper by 2.3 percent. – up to 1.472 EUR/l, gasoline became cheaper by 1 percent. – up to 1.541 EUR/l. The difference between the average prices of gasoline and diesel increased to 0.07 EUR/l.

Among the Baltic countries, fuel is the cheapest in Lithuania. Also, the average price of gasoline in our country is 14.2 percent. lower, and diesel – 10.6 percent. lower compared to the average fuel prices of EU countries.

gas prices

LEA information

123rf photo.


The article is in Lithuanian

Tags: Average wholesale electricity prices jumped week biofuel cheapest country

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