Latvia’s ability to provide the country with electricity has been restored. Prices for the second month – historically lowest

Previously, the volume of production in relation to consumption was exceeded in March 2019, when 105% of the consumption was produced with local energy resources. In Latvia, the volume of electricity production usually increases in the spring, which is related to the floods and the increase in development at the Daugava hydroelectric power plants (HPPs). In March of this year, the amount of electricity generated by the Daugava HPP has increased by 34% compared to February, but compared to March 2019, the increase is 26%. At the same time, large thermal power plants (CHPs) show a decrease – the amount of electricity produced, compared to February, decreased by 40%, but compared to March 2019 – by 54%.

The volume of imported electricity imported to the Baltics from third countries (Russia and Belarus) in March decreased by 30% compared to February and amounted to 240,703 MWh, but compared to March 2019 – decreased by 70%. Imports from the European Union to the Baltics, on the other hand, increased by 8% in March compared to February and amounted to 1,059,133 MWh, which is 2.7 times more than in March 2019.

In March, the price of electricity in Latvia continued to decrease and fell to 24.02 EUR / MWh, thus reaching the historically lowest price level since the opening of the market not only in Latvia, but also in the Baltics. Thus, in March, compared to February, the price decreased by 14.4%, but compared to March last year, when it was 40.07 EUR / MWh, the price has decreased by 40%. The average decrease in the price of electricity in the Baltics, Finland and Sweden in March is 14.6%.

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