“Litgrid”: the wholesale price of electricity in Lithuania decreased by 40% during the week.

Last week, the price of electricity in Lithuania decreased by 40 percent, and local electricity production provided 86 percent. of the country’s consumption, the operator of the Lithuanian electricity transmission system “Litgrid” announced on Monday.

Between April 29 and May 5, the weekly average wholesale price of electricity in the Lithuanian price zone of the “Nord Pool” exchange decreased by 40 percent compared to the previous week. up to 50 euros per megawatt hour (MWh).

In Latvia and Estonia, the average wholesale electricity price was the same as in Lithuania.

According to Aistė Krasauskienė, head of Litgrid’s Market Development Department, the lowest electricity consumption this year was recorded last week in Lithuania – 186 gigawatt hours (GWh) per week, and the last time such low electricity demand was a year ago.

“The main reason is the day off on Wednesday, but the warm and sunny weather also contributed,” she said in a statement.

According to the report, on Wednesday from 11 a.m. to 6 p.m. electricity prices in Lithuania were negative and fluctuated around minus 2 euros per MWh. May 1st is also a holiday in many other European countries, so according to Litgrid, negative prices are recorded in many trading zones.

Last week, the lowest electricity consumption this year was recorded in Lithuania – 186 gigawatt hours (GWh) per week (…)

Electricity consumption in Lithuania decreased by 21% last week. from 234 GWh to 186 GWh. In total, 160 GWh of electricity was produced in Lithuania last week – 12 percent. more than a week before domestic production reached 143 GWh.

In Lithuania last week, wind farms produced the most electricity. Their production grew by 14 percent. to 65 GWh, the production of solar power plants grew by 60 percent. up to 47 GWh, hydropower generation -12 percent. up to 22 GWh. At that time, the production of thermal power plants decreased by 36 percent. up to 13 GWh, other power plants produced 12 GWh.

Last week, wind farms produced 41 percent. Solar power plants – 30%, hydroelectric power plants – 14%, thermal power plants – 8%, and other power plants – 7% of electricity generated in Lithuania.

32 percent of the country’s electricity needs was imported. Compared to the previous week, the total amount of imports decreased by 16 percent. up to 117 GWh.

When differentiating the country’s imports, 52 percent were imported from Scandinavia via the NordBalt connection, 34 percent. from Latvia, and the remaining 13 percent electricity entered the country through the border with Poland.

The total flow of electricity from Lithuania increased by 44 percent. up to 51 GWh, in which 6 percent of exports from Lithuania were directed to Sweden, 27 percent. to Latvia, and the remaining 67 percent to export to Poland with the “LitPol Link” connector.