Photo of Judita Grigelytė (VŽ).
Within a year and a half, the price of biofuel in Lithuania decreased by almost 42% and returned to the level that existed before the ban on imports from third countries.
As a result, heat prices for consumers this heating season have decreased by 18% compared to the previous one, the Lithuanian Biofuel Exchange “Baltpool” reported on Tuesday.
According to Vaidotas Jonutis, sales manager of Baltpool, after the start of this heating season, the reserves accumulated by biofuel sellers became unprofitable, biofuel is now sold below the cost price.
“For this reason, heat prices have returned to the level of the period before the ban on biofuel imports from third countries. Considering the fact that, due to sanctions, Belarusian raw materials are not used in the production of biofuel, this is a very favorable circumstance for biofuel consumers,” Baltpool’s statement reads.
According to the exchange, since May last year 80% of the biofuel purchased through Baltpool is sustainable, purchased through RED BP, a biofuel sustainability scheme established last year. In Lithuania, 87% of trade transactions take place according to it.
According to the exchange, last year foreign participants traded 1.7 terawatt hours (TWh) on the Baltpool exchange, or 4.25 times more biofuel than in 2022 (0.4 TWh).
According to V. Jonutis, 2023 was a successful year for Baltpool – the share of foreign participants increased, the Vilnius cogeneration plant was integrated into the stock exchange trading system.
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