Electricity prices also increased elsewhere in Europe: by 24% to EUR 129.49/MWh in Poland, by 21% to EUR 121.78/MWh in Germany and by 27% to EUR 123.87/MWh in Austria.
In the Baltic States, higher prices were influenced by a 45% reduction of electricity flow from Finland and by lower electricity generation from renewable resources.
The average electricity price on the Nord Pool power market increased by 42% to EUR 47.08/MWh. This was due to 24% lower electricity generation by windfarms in the Nordic countries and 11% lower electricity generation by nuclear power plants due to maintenance.
Last week, electricity consumption in the Nord Pool region stood at 6,485 GWh, while electricity generation was 7,346 GWh.
On 21-27 August, compared with the previous week, electricity consumption in the Baltic States remained stable, totalling 462 GWh. Electricity consumption in Lithuania was stable at 213 GWh, in Latvia it decreased by 1% to 116 GWh, while in Estonia it was also stable at 133 GWh.
Electricity generation in the Baltic countries on aggregate increased by 44% to 282 GWh. Lithuania generated by 8% more electricity or 110 GWh in total, Latvia by as much as 212% more or 87 GWh, while Estonia by 29% more or 85 GWh.
Last week, the Baltic countries generated 61% of electricity needed for consumption. Electricity generation in Lithuania satisfied 52% of the country’s electricity consumption demand, compared with 75% in Latvia and 64% in Estonia.