During the holiday week, the lowest electricity prices since the end of 2023

The prices of energy resources changed differently during the holiday week. The biggest fall was the wholesale price of electricity, which fell by 34.3 percent during the week in Lithuania. The country produced 70 percent of all necessary electricity. Biofuel prices in our country continued to fall and reached 17.46 EUR/MWh, diesel prices fell by 1.1 percent, and gasoline rose by 1.4 percent. Brent crude was up marginally, while TTF natural gas rose 1.8 percent for the week.

March 25–on the 31st. average wholesale electricity prices In Lithuania, it decreased from 84.5 Eur/MWh to 55.4 Eur/MWh. This is the lowest wholesale electricity price since the end of 2023. Last year, the lowest weekly electricity price (43 Eur/MWh) was also recorded during the festive Easter week.

In Latvia and Estonia, electricity also became cheaper by 34.3 percent. – up to 55.4 EUR/MWh. In Sweden, electricity became cheaper by 23.7 percent. – from 64.8 Eur/MWh to 49.5 Eur/MWh. In Finland, the price of electricity decreased by 4.3 percent. – from 56 Eur/MWh to 53.6 Eur/MWh, in Poland – 20.2 percent, from 85.2 Eur/MWh to 68 Eur/MWh. In Germany, electricity became cheaper by 9.1 percent, or from EUR 66.8/MWh to EUR 60.7/MWh.

Observing the latest electricity price futures, it can be seen that electricity prices in Germany are expected to be 20-90 EUR/MWh in the coming years, while prices in Northern Europe are expected to be in the range of 20-65 EUR/MWh. During the week under review, Lithuanian wholesale electricity prices remained closer to the price level of Northern Europe.

Electricity in Lithuania during the week under review the demand, compared to the previous week, decreased by 9 percent. – up to 219.1 GWh.

Total electricity production in our country on March 25-31.compared to the previous week, increased 47.8 percent and reached 152.8 GWh. Produced the most electricity wind power plants – 76.6 GWh, which is 122.9 percent. more than the previous week. Electricity production in solar power plants sought 30 GWh. This is almost double (93.1 percent), more than the previous week. 7.4 percent less electricity was produced by hydropower plants -17.3 GWh. 21.7 percent less (energy produced by thermal power plants – 16.5 GWh.

Natural gas prices continue to rise. Average prices at the TTF outlet in the Netherlands compared to the previous week, increased by 1.8 percent. – from 26.4 Eur/MWh to 26.9 Eur/MWh. According to natural gas price futures, natural gas prices for the coming year, judging by the average price, are very similar to those predicted a week ago and amount to 27-33 EUR/MWh.

European gas storages are currently filled to about 58.7 percent. (last week it was 59.2 percent). A year ago, storage capacity was 55.6 percent.

Inčukalnis gas storage is now about 46 percent full, a week ago it was about 46.3 percent, and in the same period a year ago – 34 percent.

In the period under review, March 25-29. The Klaipėda LNG terminal was operating at 58 percent. capacity. 353.6 GWh of natural gas was imported to Lithuania through the Klaipėda terminal (previous week – 363.6 GWh). 118.9 GWh of natural gas was sent to Latvia (43.6 GWh in the previous week). 19 GWh of gas was transferred to Poland (59.6 GWh in the previous week). 215.8 GWh of natural gas was consumed in Lithuania (253.6 GWh in the previous week).

Biofuel prices in Lithuania continue to decrease. In the considered week, biofuel prices in Lithuania were 0.85 percent. lower than the previous week and reached 17.46 Eur/MWh. At the same time last year, biofuel cost EUR 22.21/MWh in Lithuania.

Average for the week in question Brent oil price was $86.4/bbl and that 0.4 percent bigger price than the previous week when it was 86.3 USD/bbl. Looking at the latest Brent crude futures, prices are expected to be $1-$2/bbl higher next year than what was estimated a week ago.

During the period under review, the average prices of gasoline in the compared Baltic countries and neighboring countries increased by 0.6-1.6 percent.

Average diesel prices decreased in Estonia and Lithuania (0.6% and 1.1% respectively), increased in Latvia and Poland (0.3% and 1.5% respectively), while the average price in Germany did not change.

Among the Baltic countries, fuel is the cheapest in Lithuania. Gasoline in Lithuania continues to be cheaper than diesel, this difference decreased to 0.03 EUR/l last week. Compared to the average fuel prices of the Eurozone countries, the average price of gasoline in Lithuania is 16.4 percent. lower, and diesel – 9.4 percent. smaller.