The operation of the electricity interconnector between Lithuania and Sweden pushed electricity prices down to record lows in Lithuania last week, according to Litgrid, as it started to operate in test mode.
© V.Cesevičiūtės nuotr.

The average price of electricity on the power exchange Nord Pool Spot bidding area where Lithuania was able to purchase electricity was €27.70 per kilowatt-hour. It was down 33% on the same period last year according to Litgrid and is the lowest average weekly price since the beginning of Lithuania’s connection to Nord Pool.

Litgrid said the electricity market had begun to react to the operation of the NordBalt link, even though it is still in test mode, and that influenced the direction of power flow and its volumes in the Baltic countries.

With the launch of NordBalt, electricity prices over the past week were uniform across Lithuania, Latvia and Estonia, said Litgrid.

Lithuania imported 81% of electricity consumed in the country last week with 69% of electricity imported from Northern Europe, and the rest - from third countries.

NordBalt reduced Lithuanian electricity imports from Belarus by 48% last week, as imports from third countries decreased by 14%.

Leave a comment
or for anonymous commenting click here
By posting, you agree to terms
Read comments Read comments

Chances for Lithuania to get more funding for N-plant closure increasing – expert

A proposal for the European Parliament to approve the allocation of 780 million euros for the...

European Parliament's rapporteur proposes EUR 780 mln for Lithuanian N-plant closure

The European Parliament is recommended to approve 780 million euros in funding for the Ignalina...

Energmin calls deal on synchronization scenario 'decision of the decade'

Lithuania, Latvia and Estonia have reached a long sought-after agreement that opens the way for the...

Technical scenario for Baltic grid synchronization approved in Brussels (Updated)

The project for the synchronization of the Baltic power grids with the Continental European system...

Danpower agrees to put off amicable deal's implementation

German energy company Danpower has agreed to postpone the implementation of the State of Lithuania's...