Electricity prices in Baltic states rise by 29%

Elektrum Lietuva, the independent electricity supplier, said that electricity prices in the Baltic States increased because of the rapid growth of fuels. Natural gas prices went up by 24% to EUR 193.98 per MWh last week.

The average electricity price on the Nord Pool power market decreased by 29% to EUR 106.54 per MWh last week, due to 27% greater electricity generation by wind farms. Nuclear power capacity in the Nordic countries increased to 85% of the full installed capacity.

On 25 -- 31 July, electricity consumption in the Nord Pool region stood at 6,210 GWh, while electricity generation was 6,888 GWh.

The Baltic States' aggregate electricity consumption decreased by 1% to 462 GWh last week. Lithuania consumed 1% less electricity or 221 GWh. In Latvia, electricity consumption remained stable at 117 GWh. In Estonia, it decreased by 1% to 124 GWh.

The Baltic countries' electricity generation on aggregate decreased by 13% to 214 GWh last week. Lithuania produced 12% less electricity or 79 GWh, Latvia 10% less or 34 GWh and Estonia by 14% less or 101 GWh.

In the Baltic states, electricity generation satisfied 46% of the local consumption demand last week. In Lithuania electricity generation satisfied 36% of the country's electricity consumption demand, in Latvia 29% and in Estonia 82%.