Electricity prices in Lithuania rise 9.6% in July

Lithuania’s average electricity market price rose by 9.6% in July compared with June, but fell by 10% from a year earlier, Lietuvos Energijos Tiekimas (LET) said.

The price on Nord Pool’s Lithuanian bidding area averaged 48.94 euros per megawatt-hour last month, close to Latvia’s 48.95 euros and Estonia’s 48.92 euros, the power and natural gas supply company said.

M-o-m, electricity prices moved up across the Baltic region, rising by 9.6% in both Lithuania and Latvia and by 12.6% in Estonia. Y-o-y, electricity prices declined by 10.3% in both Lithuania and Latvia and went down by 9.6% in Estonia.

The price in Sweden’s fourth bidding area (SE4) averaged 37.34 euros per MWh last month.

“The difference between July electricity prices in Lithuania and Sweden reached 11.6 euros per MWh. Such a big difference was probably due to electricity production in Estonia remaining lower than usual; it decreased by another 2.8% compared with June,” Martynas Boratinskas, head of business solutions at LET, said.

The company said lower power generation in Estonia will likely continue to affect Baltic electricity prices in August.

Other factors will include lower-than-installed transmission capacities with Latvia and Kaliningrad.

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