The average wholesale price of electricity on the Nord Pool exchange’s bidding area in Lithuania dropped by 41% last week from the week before, to EUR 37/MWh. This was down in large part to favourable weather conditions for solar and wind power generation. Lithuania’s electricity transmission system operator, Litgrid, reported this in a news release on Monday.
According to the operator, the price last week was the lowest since April in 2024.
On Saturday, the hourly price of electricity reached its second lowest level since July 2023, failing to EUR -21.7 per MWh at 3:00 PM and EUR -22.7 per MWH at 2:00 PM on June 14.
“The Estlink 2 interconnector came back online after six months of repairs, and that also contributed toward lower electricity prices in the Baltic States,” says Andrius Maneikis, an expert at the Litgrid Market Development Department. “With the interconnector back in operation, the trading capacity between Finland and Estonia has increased from 350 MW to 1,000 MW.”
Litgrid adds that Lithuania’s electricity generation increased by 10% week-on-week to 204 GWh, while consumption fell by 2% to 199 GWh. Local power plants covered 103% of the country’s electricity needs.
Source: BNS
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