Latvian electricity market overview

In June 2026, the average electricity price in the Latvian bidding area increased to EUR 92,23 per megawatt hour (EUR/MWh), which is 12% more than in May, while compared to June 2025, the price is 114% higher.

Highlights in June :

• In June, the volume of electricity produced and delivered to the grid in Latvia decreased by 10% compared to May to 495 gigawatt hours (GWh), however, it was 2% higher than in June 2025. Meanwhile, electricity consumption decreased by 4% to 560 GWh, which at the same time was 8% higher than in the same period last year. Local electricity generation was able to cover 88,48% of the total national electricity consumption;
• The volume of electricity generated in solar power plants continued the upward trend of previous months and in June increased by 17% compared to the previous month, as well as was 3,2 times higher than in June 2025, reaching a new all-time record – 274 GWh. Thus, for the second consecutive month, solar energy has been the dominant electricity generation source in Latvia, surpassing hydropower plants;
• Electricity generation also increased in biomass plants – an increase of 5% to 18 GWh. In other generation sources, a decrease in electricity production was observed – in hydropower plants by 30% compared to May to 158 GWh, in natural gas plants by 43% to 10 GWh, in biogas plants by 6% to 8 GWh, and in wind power plants by 46% to 21 GWh, however, this volume was 65% higher than in June 2025;
• In June, the average electricity price in the Baltic states increased by 11,52% compared to May, reaching 83,45 EUR/MWh. In Latvia, the price reached 92,23 EUR/MWh, which was 12,29% higher than in the previous month, in Estonia, the price was 64,40 EUR/MWh, or 7,10% higher, while in Lithuania electricity prices rose the most rapidly – by 14% to 93,71 EUR/MWh;
• Price differences in the Baltics were driven by reduced generation across all generation types except solar power plants, resulting in increased electricity imports during morning, evening, and night periods. Estonia was able to offset this decline by importing significantly cheaper energy from Finland, while the markets of Lithuania and Latvia compensated with relatively more expensive imports from Poland and Sweden. Overall, according to corrected operational data from the ENTSO-E Transparency Platform, electricity generation (excluding solar power plants) in Latvia and Lithuania decreased to 665 GWh, which is 28% less than in May;
• In June, an increase in electricity price levels was observed across all Europe, except in Finland, where prices decreased. Electricity prices in the Baltics rose due to reduced wind power generation and overall electricity production in the region, while towards the end of the month prices were additionally influenced by a heatwave in Europe, driving higher electricity consumption and increasing costs across the wider region;
• Along with rising prices, the number of 15-minute trading intervals with negative electricity prices decreased. In Latvia and Lithuania, there were 25 such intervals in each country, while in Estonia there were 31;
• Total electricity imports from European Union countries to the Baltics continued to grow – in June, they increased by 15,4% compared to the previous month. Imports from Poland rose by 19,1%, imports from Finland by 6,9%, while imports from Sweden increased the most rapidly – by 41,3% compared to May;
• Compared to June 2025, electricity imports to the Baltic states have also increased by nearly 40%, which is linked to the unavailability of the Estonia–Finland interconnection Estlink 2 until June 20 of last year, resulting in an 86% increase in imports from Finland to the Baltic states this June;
• The number of activities recorded in the Latvian Electricity Guarantees of Origin (GO) Register showed uneven changes in June. The number of imported GOs increased more than fourfold compared to May, while the number of cancelled GOs rose by 12%. Meanwhile, the number of issued GOs decreased by 28%, exported GOs by 75%, GOs transferred within Latvia by 5%, and the number of expired GOs decreased by 47% compared to the previous month.

Raw data can be downloaded here.

Electricity production and consumption balance in Latvia*

* Here and in the following review, the electricity produced is the electricity injected into the grid and the electricity consumed is the electricity received from the grid for consumption.

** Battery Energy Storage Systems (BESS) are not considered a production type, as they store electricity received from the grid. When this electricity is fed back into the grid, it is included in the total production. As of 1 December 2025, the BESS volume includes the electricity delivered to the grid by AST’s Battery Energy Storage Systems in Rēzekne and Tume, and the electricity received from the grid by AST BESS is included in Latvia’s electricity consumption volume.

** Fossil energy source – fossil gas; renewable energy sources – hydro, solar, wind, biogas and biomass.

Balance of the electricity production and consumption in the Baltic States

Interconnection load and electricity prices

*Historical data up to 1 October 2025 for periods with negative electricity prices have been mathematically recalculated into 15-minute intervals for comparison purposes.

Price comparison between neighbouring bidding areas

Load of the Baltic States interconnections

Electricity import to the Baltic States  [5]

GUARANTEES OF ORIGIN (GOs)

Statistics of the activity in the Latvia Domain for GOs

BALANCING MARKET IN THE BALTIC STATES

Imbalance prices in the Baltic States

Highest and lowest bid prices

Total activated energy

Average 15 minutes standard bid size

In case of any doubts, questions or inaccuracies, please contact us at [email protected]. 

The information contained in the Market Overview is provided for informational and educational purposes only. Nothing contained in the Market Overview is to be construed or used as a basis for investment or as a basis for any claims against AST. 

Abbreviations and designations used:

LV - Latvia trade area, LT - Lithuania trade area, EE - Estonia trade area, PL - Poland trade area, FI - Finland trade area, SE4 - Sweden's fourth trade area, AT - Austrian trade area, BE - Belgium trade area, DE-LU - German- Luxembourg trade area, FR - France trade area, NL - the Netherlands trade area, DK1 and DK2 - Danish 1. and 2. trade area.

Load = monthly total commercial flow in kWh / monthly total net transfer capacity in kWh ("Net Transfer Capacity" NTC).

The ENTSO-E Transparency Platform is a central collection and publication of electricity generation, transportation and consumption data and information for the pan-European market.

Guarantee of Origin (GO) is an electronic document, that proves the origin of the generated electricity. GOs are uniquely identifiable, transferable, and therefore tradable and used (by cancellation) to provide information of supplied energy to the end-consumer. One GO = 1 MWh generated and injected into the grid that has an expiration of 12 months after the end of the production period.

* Here and in the following review, the electricity produced is the electricity injected into the grid and the electricity consumed is the electricity received from the grid for consumption.

** Fossil energy source – fossil gas; renewable energy sources – hydro, solar, wind, biogas and biomass.

[1] In Latvia there are 10 distribution system operators – for more information visit https://www.sprk.gov.lv/content/pakalpojumu-sniedzeji-1

[2] Here as electricity imports are not commercial transactions, but electricity that has physically entered the network from other countries.

[3] Here as electricity exports are not commercial transactions, but electricity physically transferred from the network to other countries.

[4] According to the (ENTSO-E) definition, which does not include electrical self consumption.

[5] Here as electricity imports are commercial transactions.