Lithuania power price falls 49% as renewable output rises

Lithuania’s average wholesale electricity price fell 49% last week to its lowest weekly level since April, LRT reported, citing Litgrid. The price in the Lithuanian zone of the Nord Pool electricity exchange dropped from 75 euros to 39 euros per megawatt-hour between July 27 and August 2.

The price in Latvia was the same as in Lithuania, while Estonia recorded a price of 25 euros per megawatt-hour.

Litgrid said increased renewable electricity generation in the Baltic countries and Northern Europe drove the decline. In Germany, where a heatwave affected many electricity markets, the average weekly price reached 117 euros per megawatt-hour.

Lithuania’s electricity demand remained unchanged at 240 gigawatt-hours. Domestic power plants covered 84 percent of the country’s demand, generating 202 gigawatt-hours, up 9 percent from the previous week.

Solar power plants produced the most electricity, generating 87 gigawatt-hours, an 8 percent increase. Wind power generation rose 26 percent to 75 gigawatt-hours. Hydropower plants generated 16 gigawatt-hours, thermal power plants produced 14 gigawatt-hours and other plants generated 9 gigawatt-hours.

Solar power accounted for 43 percent of Lithuania’s electricity generation, followed by wind power at 37 percent, hydropower at 8 percent, thermal power at 7 percent and other plants at 5 percent.

Total electricity imports remained unchanged at 97 gigawatt-hours. Sweden supplied 71 percent of imports, Latvia 27 percent and Poland 2 percent.

Electricity exports from Lithuania rose 28 percent to 60 gigawatt-hours. Poland received 46 percent of exports, Latvia 40 percent and Sweden the remaining 14 percent.

LitPol Link capacity was used at 85 percent in the direction of Poland and 9 percent in the direction of Lithuania. NordBalt capacity was used at 7 percent in the direction of Sweden and 58 percent in the direction of Lithuania.