Latvia has reached the lowest average price of electricity in history since the opening of the market

Market

In February, the price of electricity in Latvia continued to decrease, reaching its historically lowest level since the opening of the electricity market in July 2013. In February, according to the Latvian electricity market overview prepared by the Latvian electricity transmission system operator AS Augstsprieguma tīkls (AST), the average price was EUR 28.05/MWh.

Although the total amount of electricity generated in the country compared to January decreased slightly – by 4%, consumption also decreased by 6% in February, resulting in an increase of the coverage of national consumption with locally generated electricity by 2.2 percentage points. Thus, in February, 97% of the electricity consumed in the country was produced in Latvia. Compared to February last year, the total electricity consumption in Latvia has increased by 0.4%.

The amount of electricity generated by Daugava hydropower plants compared to January has decreased by 8%, but compared to February 2019 - has increased by 145%. Compared to January, the amount of electricity generated by thermal power stations (CHP) has increased by 9%, but compared to February 2019, it has decreased by 36%.

The amount of electricity imported to the Baltics from third countries (Russia and Belarus) compared to January decreased by 30% and amounted to 342,104 MWh, but compared to February 2019 - decreased by 36%. Whereas the imports from the European Union to the Baltics increased by 2% in February compared to January and amounted to 981,212 MWh, which is almost twice as much as in February 2019.

The latest overview of the Latvian electricity market and its archive prepared by AST since 2015 is available on the AST website http://www.ast.lv/en/electricity-market-review