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Electricity prices dropping in Lithuania

Lithuania’s average wholesale electricity price dropped by 59% to EUR 56/MWh last week among windy and mild winter conditions. This was reported on Monday by Litgrid, the country’s electricity transmission system operator.

Aiste Krasauskiene is the director for market development at Litgrid. She says that consumption of electricity fell, and wind turbines accounted for 69% of output.

“As the weather warmed last week, consumption of electricity decreased, and stronger winds meant that most of the power was generated by wind power plants,” she said in a news release. “These factors pushed prices down.”

Lithuania also set a new weekly record for wind power generation, with turbines producing 153 GWh of electricity.

“Wind variability causes relatively random records of an hourly or daily nature, but a weekly record represents continuously growing wind capacity,” Krasauskiene noted.

Electricity prices in Latvian and Lithuania averaged EUR 60 during the week of December 16-22, which represented a decline of 56% and 52% respectively in comparison to the previous week.

Source: BNS

(Reproduction of BNS information in mass media and other websites without written consent of BNS is prohibited.)

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