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Tuesday 23.05.2017 | Name days: Leontīne, Ligija, Lonija, Leokādija

Insufficient transmission capacity delays the decline of electricity prices in Latvia

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUThe average price of electricity in January 2016 in Latvia was 50.01 EUR/MWh, which is slightly below the price in Lithuania – 50.32 EUR/MWh and significantly above that in Estonia – 37.63 MWh. Compared with January 2015, the price of electricity has grown 20.5% in Latvia.

The price difference between Latvia and Estonia can be explained with insufficient transmission capacity between these two countries in Latvia’s direction. The number of congestion hours between Latvia and Estonia (in Latvia’s direction) formed 75% of the total hours in January (561 hours out of 744). The number of congestion hours between Latvia and Lithuania was 15 in January. This is also reflected in the slight price difference between the two countries. There are two high-voltage (330 kV) power lines between Estonia and Latvia and four between Latvia and Lithuania. In order to reduce the risk of price difference between Latvia and Estonia in the former’s direction, construction has commenced in the project of the third power line between Latvia and Estonia. This project is partially financed by the European Union, as reported by the head of the Electrical Energy Office of Public Utilities Commission Latvia Valters Kalme.

Air temperature was low in the first half of January in Baltic States and Scandinavia alike. This was also a factor in increased demand for electricity and higher prices in the entire region.

89% of electricity was produced in Latvia in January. The remaining 11% were procured from third countries. Such a situation is not something new for January – Latvia usually imports 70% of the required electrical energy annually.

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