Baltic electricity prices rise by 18% during the week

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These price changes had a strong impact on developments in the related trading regions, mainly higher electricity prices in Finland and Sweden, where price increases were driven by declining nuclear power plant production, and 79% of total installed capacity was available last week. The weekly average electricity price in Finland increased by 24% to 45.39 EUR / MWh, the price in the Swedish SE4 retail area increased by 6% to 42.25 EUR / MWh.

Baltic electricity prices affected 3% lower energy flows from Finland, 14% lower energy flows from Russia and twice as much energy flows from Sweden’s SE4 trading area.

Nord Pool’s weekly average system price decreased by 10% to 39.18 EUR / MWh. Last week, warmer weather, heavy rainfall and an increase in inflows, fueled by the onset of thaw, led to an increase in reservoirs in the Nordic countries. The price reduction of the Nord Pool system was also facilitated by the 22% increase in wind farm development over the weekend.

In the Nord Pool region, consumption remained at the previous week’s level of 7,140 GWh, production volumes decreased compared to the previous week, and 7,346 GWh were produced.

Last week, the total electricity consumption in the Baltic States increased by 3%, and a total of 480 GWh was consumed compared to the previous week. In Latvia, consumption has been unchanged since the previous week, 128 GWh were consumed. In Estonia, consumption increased by 9% and consumed 142 GWh, while in Lithuania consumption increased by 1% to 210 GWh.

Last week, total electricity generation in the Baltics decreased by 7% to 244 GWh. In Latvia, electricity generation was 16% lower, with 106 GWh produced in the previous week. In Estonia, production volumes increased by 4% to 66 GWh, while in Lithuania electricity generation was 1% higher or 72 GWh.

Last week, the volume of development against consumption in Latvia was 83%, in Estonia 46%, but in Lithuania 34%. The Baltic States produced 51% of the electricity consumed in the region.

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