VERT: From July – lower electricity market price

The State Energy Regulatory Council (VERT) set the electricity market price for the second year of 2024 on Monday. for half a year.

The new market price effective from July 1. until December 31, will reach 8.353 ct/kWh (83.53Eur/MWh) and will be 14.35 percent. lower than in the first half of this year (9.753 ct/kWh or 97.53 Eur/MWh).

Market price in 2024 for the second half is determined by evaluating:

– Electricity prices on the Nord Pool electricity exchange in the trading zones of Lithuania and Finland for the last 12 calendar months;
– daily price indexes of financial instruments futures published on the Nasdaq OMX website;
– Electricity consumption unevenness coefficients published according to the Electricity Market Rules.

The market price is used:

– Determining the annual estimate of funds for services in the public interest (hereinafter referred to as “Public Interest Services”) for the coming calendar year;
– Calculating the public price of electricity;
– Determining the sums payable to the recipients of VIAP funds, in accordance with the Administration description.