April was the lowest level of electricity prices in the last three years / Article

In April, the price of electricity was 12% lower than in March and 9% lower than a year ago.

According to the market review of the Latvian transmission system operator “Augstsprieguma tīkls”, a similar trend was also observed in neighboring countries. In Lithuania, the level of electricity prices was identical to Latvia, but in Estonia, the monthly average price was slightly higher – 60.39 euros per MWh.

The drop in electricity prices was facilitated by the high performance of solar, wind and hydro power plants, as well as warmer weather, which contributed to the reduction in electricity consumption. In addition, in the first weeks of the month, negative electricity prices were also observed in Latvia, the Baltics and the Nordic countries due to the forecast of large solar, wind and hydro generation.

In April, different trends were observed in the interconnected electricity trading areas of the Baltic States in relation to the average electricity price. In Finland and Sweden’s zone 4, the price decreased respectively by 18% or up to 48.92 euros per MWh and by 4% or up to 53.79 euros per MWh, while in Poland the price increased by 7% or up to 80.87 euros per MWh.

In April, compared to March, the import of electricity to the Baltic States decreased by 2.5% in general, although the volume imported from Poland increased by 1.3% and Finland by 19.1%, but decreased by 12.7% from the 4th region of Sweden. The amount of imported electricity to the Baltic States continues to decrease, reaching the lowest amount since November 2023.

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