“Elektrum Lietuva”: last week electricity production in the Baltic countries increased, prices fell

Last week, the wholesale price of electricity in Lithuania decreased by 40%. and averaged 50.12 Eur/MWh. Electricity cost the same in other Baltic countries.

Changes in electricity prices were also observed in other European countries: in Poland, the weekly average price reached 66.45 Eur/MWh, in Germany – 56.87 Eur/MWh.

At that time, the prices offered by independent electricity suppliers to Lithuanian residents also changed slightly. The lowest fixed price of “Elektrum Lietuva” was 23,921 ct/kWh, fixing it for 6 months.

The average price of the Nord Pool electricity exchange decreased compared to the previous week 49 percent. up to 35.33 EUR/MWh.

“Last week, the price of electricity in the Nord Pool area decreased due to the regional 14 percent lower consumption affected by warmer weather and holidays across Europe. In addition, the production of renewable energy increased significantly – the generation of wind power plants increased by 43 percent, solar power plants – by 45 percent. The same factors also led to a decrease in prices in the Baltic countries,” says Mantas Kavaliauskas, product development manager of the energy solutions company “Elektrum Lietuva”.

Electricity consumption in the Nord Pool region decreased to 6,800 GWh, production decreased slightly – to 7,554 GWh.

In Lithuania, consumption decreased, production increased

In the Baltic countries, electricity consumption decreased during the week 18 percent and reached 424 GWh. Electricity consumption in Lithuania is 21 percent. less than the previous week, 168 GWh, in Latvia – 15 percent less, 105 GWh, consumption in Estonia decreased by 18 percent. up to 133 GWh.

The volume of total production of electricity in the Baltic countries rose by 4 percent last week. and reached 435 GWh. In Lithuania, 11% of electricity is produced. more than the previous week, 160 GWh, in Estonia – 6 percent more, 95 GWh, at that time in Latvia – 3 percent. less, 180 GWh,.

During the week, all three Baltic countries together produced 103 percent. they require electricity. 86% was produced in Lithuania, 172% in Latvia, 71% 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 211 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 over 300 MW are under development.