Electricity prices in Lithuania slightly decreased in last week of August

Monday, 07 September 2015

The average electricity price in the Nord Pool Spot Lithuanian bidding area on 24-30 August was 44.48 EUR/MWh. It was by 2 percent lower compared with the previous week.

According to AB Litgrid, Lithuanian electricity transmission system operator, electricity price in the market decreased by a tenth compared with the same period of 2014. The change was mostly due to the increase of hydroelectric power generation in Scandinavia and greater electricity supply from the Nordic countries.

Last week Lithuania imported 66 percent of electricity it consumed. 52 percent was imported from Latvia, Estonia and Finland, while the rest - from third countries. Although one unit of Kaliningrad's thermoelectric power plant was undergoing repairs and electricity import from Russia fell, it was compensated by electricity import from Latvia. Wind power generation in Lithuania grew by a third and also influenced the stability of electricity prices.

Compared with the previous week, the average electricity price in the whole Nord Pool Spot system remained almost unchanged and was 16.82 EUR/MWh.

On 24-30 August, international Latvia-Estonia interconnection capacity was on average used at 90 percent, Lithuania-Latvia - 54 percent, Lithuania-Belarus - 74 percent.

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