Weather conditions mainly affected power prices last month, Martynas Giga, director of independent power supplier Elektrum Lietuva.
“The water level at hydropower plants in the Nordic countries rose slightly last month but remains far below the long-term level, therefore, their production volumes were restricted. However, wind farms produced high volumes of power at the start of the month but production decreased due to cold weather. As a result, power demand grew and prices subsequently went up,” Giga said.
The average electricity price on the Nord Pool power exchange rose 12% to 48.37 euros over a month, reaching the highest level in the past eight months.
Estonia saw the fastest growth in the price of electricity. It jumped 14% to 52.62 euros per MWh. In Latvia, the price inched up 0.4 percent to 55.24%, and went down 0.5% to 55.42 euros.
Power consumption in he Baltic states rose 4% to 2,450 GWh. It grew 6% to 746 GWh in Estonia, and rose 3% to 1,067 and 637 GWh in Lithuania and Latvia respectively.
Power production volumes went up 7 percent to 1,624 GWh in the three states. They grew 27% to 488 GWh in Latvia, rose 14% to 919 GWh in Estonia and dropped 36% to 217 GWh in Lithuania.