For the first time ever power in Lithuania is cheaper than in Sweden
In November for the first time in history the average monthly price of power the Lithuanian area of the Nord Pool market was cheaper than in Sweden, Finland and Estonia. The difference amounted to 0.3–0.5 EUR/MWh. Compared to November of the previous year, the price in the Lithuanian area has fallen by 11.5 percent to 40.6 EUR/MWh.
The price difference between the countries was determined by scheduled repairs of the NordBalt cable during November 7–18, high energy prices in Scandinavia influenced by high power prices in France and Germany as well as low levels of water in Scandinavian reservoirs and significantly drier and colder than usual weather in the entire Nordic region.
“Lithuania managed to avoid higher prices due to more favorable weather and launch of a combined cycle unit in Elektrėnai”, explains Vidmantas Salietis, head of independent energy supplier Energijos tiekimas.
In 2016, a price drop has been recorded in Lithuania – on average, energy costs around 13 percent less than in 2015. The average price in the eleven months of this year was 36.7 EUR/MWh compared to 42.2 EUR/MWh during the same period last year. The price difference could have been even greater, if the NordBalt cable had been switched on at the start of the year instead of the middle of February, 2016.
