Last week, the wholesale price of electricity decreased by 40%

On April 29, May 5, the average wholesale weekly price of electricity in the Lithuanian price zone of Nord Pool decreased by 40% from 83 EUR/MWh to 50 EUR/MWh compared to the previous week. In Latvia and Estonia, the average wholesale price of electricity was the same as in Lithuania, the operator of the Lithuanian electricity transmission network, Litgrid, announced.

At 1118 hours on Tuesday, electricity prices in Lithuania were negative and fluctuated around -2 Eur/MWh. May 1 is also a holiday in many other European countries, so negative prices appear in many shopping areas. the highest negative price was fixed in Holland at 1416 hours and reached as much as -200 Eur/MWh. Recently, negative prices in the market are still needed on sunny days off, when the demand for electricity is minimal and the production of renewable resources is extremely high. For example, in Lithuania on Tuesday during lunch, the generation of solar power alone reached about 860 MW, and the consumption did not reach 1100 MW, Aist Krasauskien, Head of Litgrid’s Market Development Department, is quoted in the report.

Electricity consumption in Lithuania last week increased by 21% from 234 GWh to 186 GWh. In Lithuania, local power plants ensured 86% of oil electricity consumption. In total, 160 GWh of electricity was produced in Lithuania last week, which is 12% more than the previous week, when local production reached 143 GWh.

In Lithuania last week, the most electricity was produced by wind power. J production grew by 14% from 57 GWh to 65 GWh. Solar electricity production grew even faster by about 60% from 30 GWh to 47 GWh. Hydroelectric generation grew by 12% from 20 GWh to 22 GWh. And the thermal power plants connected to the transmission network generated 36% less than last week, their production decreased from 21 GWh to 13 GWh. Other power plants produced 12 GWh.

Last week, wind power produced 41% of electricity generated in Lithuania, solar power 30%, hydropower 14%, thermal power 8%, and other power 7%.

Compared to the previous week, the total amount of imports decreased by 16% from 140 GWh to 117 GWh. Differentiating the oil import, 52% was imported to Scandinavia via the NordBalt connection, 34% to Latvia, and the remaining 13% of electricity entered the border with Poland.

The total flow of electricity to Lithuania increased by 44% from 35 GWh to 51 GWh. 6% of the exports to Lithuania were directed to vedire, 27% to Latvia, and the remaining 67% were exported to Poland via the LitPol Link connection.

Up to 58% of the bandwidth of the LitPol Link connection is used for electricity flow in the direction of Poland and 19% in the direction of Lithuania. NordBalt bandwidth utilization was 4% in the direction of Vedia and 52% in the direction of Lithuania.