aA
In 2016, the average price for electricity in the Lithuanian bidding area of Nord Pool was the lowest in the history of the exchange: EUR 36.5 per megawatt hour (MWh). The price was 13% lower compared to 2015 and 25% lower than in 2014 and 2013, LitGrid AB informed in its press release today.
Excursion to "Litgrid"
Excursion to "Litgrid"
© DELFI / Karolina Pansevič

‘The impact of NordBalt and LitPol Link, the new power links, exceeded our expectations. Lithuania and Latvia are the only countries in the Baltic-Nordic region where the average market price for electricity has dropped last year. The new links enabled us to diversify the sources of electricity import, and we have been benefiting from this from the first days of the links’ operation. Apart from opening the way to Europe, they have changed the behaviour of players in the electricity market. The year 2016 has shown that now we are dependent on events and trends in Poland and Sweden, and local producers have to learn to compete under the new conditions‘, - said Daivis Virbickas, CEO of Litgrid, the Lithuanian electricity transmission system operator.

In 2016, the availability of LitPol Link was 96%, and that of NordBalt 78% (time per year). The loading of cross-border links connecting Latvia and Estonia, the insufficient capacity of which had influenced the price difference was reduced by one quarter compared to 2015.

According to Daivis Virbickas, the first year of operation of the power links was very important to the Baltic States, Poland and Sweden: ‘During the first six months of the year when the prices in Poland were higher than those in our bidding area, the electricity flow to Poland prevailed in LitPol Link. In the early autumn, when generation at hydropower plants in the Nordic dropped considerably, Sweden started using NordBalt as a source of import. ‘

|Populiariausi straipsniai ir video

GetJet Airlines set to lay off 370 employees

Lithuania's wet-lease and charter services provider GetJet Airlines has given lay-off notices to 370...

Avalanche of ideas developed in 'Hack the Crisis' hackathon

One of the most important tasks for hackathon organizers was to identify the most pressing issues,...

Lithuania and some other EU countries ask for Mobility Package postponement

Lithuania and "like-minded" EU member states are urging the bloc's bodies to postpone the...

Oro Navigacija sees further 50 pct drop in workload after Russia halts flights

The chief executive officer of Lithuania's state-owned air navigation service provider Oro...

Intersurgical to produce 1 million respirators for medics

Intersurgical, a Lithuanian designer, manufacturer and supplier of a wide range of high quality...

Top news

Coronavirus pandemic: 533 cases in Lithuania

On Tuesday, 30th March, 42 new COVID-19 cases were confirmed in Lithuania. In total there were 533 in...

27 severe coronavirus cases in country

Lithuania currently has 27 severe COVID-19 cases and the coronavirus outbreak has not yet peaked,...

GetJet Airlines set to lay off 370 employees

Lithuania's wet-lease and charter services provider GetJet Airlines has given lay-off notices to 370...

COVID-19 spread curve shows signs of flattening in Lithuania

There are signs that the coronavirus spread curve in Lithuania is flattening, Health Minister...

Everyone with symptoms will be tested for coronavirus

Everyone who develops symptoms of an acute respiratory infection will be tested for the new...

|Maža didelių žinių kaina