Electricity price grows in Lithuania

Wednesday, 14 October 2015

The average electricity price in the Nord Pool Spot Lithuanian bidding area was EUR 64.9 per megawatt hour (MWh) on 5-11 October. Electricity price soared by 53 percent compared with the previous week and was by 16 percent higher compared with the identical period of 2014.

Last week the increase of electricity prices was determined by several factors. First, there were fewer possibilities to import electricity from third countries after Kaliningrad Thermal Power Plant was closed for maintenance. One of the units of Latvian Thermal Power Plant was not operational as well. Next, repairs of power transmission lines in Russia and between Sweden and Finland contributed as well.

Lithuania imported a total of 65 percent of electricity it consumed - 60 percent from the Nordic countries and 40 percent from third countries. Power generation by wind farms in the Baltic States fell twofold, while Kruonis Pumped Storage Power Plant generated by 37 percent less electricity.

The average electricity price in the Nord Pool Spot power market grew by a quarter, to EUR 18.31 per MWh.

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