Electricity price in Lithuania this April - almost 20 percent lower than a year ago

Monday, 25 May 2015

In April, the average electricity price in the Nord Pool Spot Lithuanian bidding area was EUR 35.61/MWh, and this is almost 20 percent lower than in April last year.

Compared to March, the electricity price went up by 11 percent in the Lithuanian and Latvian bidding areas. As it is common in spring, due to the longer daylight hours, the demand of electricity was 5 percent lower in April than March, Litgrid AB, the Lithuanian electricity transmission system operator, reports.

71 percent of the electricity required for consumption was imported to Lithuania. The electricity import from Latvia, Estonia and Scandinavia increased by 9 percent, while the import from Russia decreased by 25 percent.

The total amount of electricity generated in April decreased by 3 percent and amounted to 236 GWh. Almost 23 percent of the electricity was generated from wind power plants, with 33 percent from hydro power plants. The companies producing electricity in-house generated less than 2 percent of the total electricity in Lithuania. The combined circle unit (No. 9) of the Lithuanian Power Plant, operating from April 15 in order to ensure the reliable operation of the system, generated 37 percent of the total electricity produced in Lithuania.

In the Nord Pool Spot Scandinavian bidding area, the average electricity price in April remained almost unchanged compared to March, at EUR 25/MWh.

"There was an obvious difference in price between Denmark-Norway-Sweden and Finland-Estonia: the prices slightly decreased in the western coast of the Baltic Sea, while in Finland and Estonia, they remained a few percent higher than in March. That was the result of a 33 percent lower import from Russia to Finland and short-term repairs of the Sweden-Finland power links," commented Robertas Staniulis, Litgrid's head of the Market Development Division.

The average monthly price in the Swedish SE4 bidding area was EUR 26/MWh and in the Finnish bidding area, EUR 30/MWh in April. The electricity price in the Estonian bidding area in April remained EUR 30.5/MWh, the same as in March.

"Due to reduced hydro power generation in Latvia, Latvia was supplied with electricity from Estonia. The average price in the Estonian bidding area was EUR 0.4/MWh higher than in Finland because the capacities of both Estlink power links were not enough," said Staniulis, Litgrid reports.

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