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In July, the average electricity price in Nord Pool Spot power market Lithuanian trading zone (NPS LT) was LTL 0.198 (EUR 0.057) per kilowatt-hour, which was 4.4 percent above what it had been in June (LTL 0.189 or EUR 0.054 per kWh). In July 2014, compared with July 2013, the price increased by 17 percent.
Hot weather raised electricity price in Lithuania
© DELFI / Valdas Kopūstas

In the first seven months of 2014, the average electricity price was LTL 0.165 (EUR 0.047) per kWh, it increased by 3 percent compared with the same period of 2013 when it was LTL 0.160 (EUR 0.046) per kWh.

In July the average temperature was 20.2 Celsius, by 6 degrees greater than in June. It was the hottest month recorded in the last 4 years. Due to hot weather the use of air conditioners became more frequent which was a contributing factor to electricity consumption growth. Compared to June electricity consumption grew by 6.5 percent to 0.78 terawatt-hours.

Furthermore, Estlink 2 electricity link between Finland and Estonia was not fully operational in July resulting in throughput reduction from 860 megawatts to 342 megawatts. This hampered cheaper Scandinavian electricity import to the Baltic states. In addition, electricity link in Russia underwent maintenance and transmission between Latvia and Estonia was limited to 650 megawatts. Export from Kaliningrad Region was also limited as the region faced increased power consumption.

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