Latest news with #NordPool
The Star
28-04-2025
- Business
- The Star
Baltic electricity prices jump 56 pct last week
RIGA, April 28 (Xinhua) -- Electricity prices in the Baltic bidding areas of the Nord Pool exchange surged by an average of 56 percent last week, compared to the previous week, LETA reported on Monday, citing Latvia's energy group Latvenergo. Last week, the electricity price jumped 46 percent to 94.9 euros (108 U.S. dollars) per MWh in Latvia, 48 percent to 94.55 euros per MWh in Lithuania and 78 percent to 95.01 euros per MWh in Estonia. According to Latvenergo, electricity prices rose in nearly all Nord Pool bidding areas last week as the system's average price hit 53.24 euros per MWh, a 2.4-times increase week-on-week. The price hikes in the Baltic countries were caused primarily by a 32 percent drop in wind power generation. In addition, electricity imports to the Baltics dropped by 6 percent, said Latvenergo. Total electricity consumption in the Baltics rose by 2 percent week-on-week to 462 GWh. (1 euro = 1.14 U.S. dollar)
Local Sweden
27-02-2025
- Business
- Local Sweden
Electricity prices in southern Sweden in February highest since 2022
Electricity in February cost on average 1.04 kronor per kilowatt hour (kWh) in southern Sweden (zone four), according to the Nord Pool electricity exchange. The last time prices were close to that was in June 2023, where they were slightly lower at 1.03 kronor per kWh, and the last time prices were higher was at the end of 2022. Most Swedes have flexible electricity contracts based on the monthly price, meaning many will be paying close attention to the monthly average. In zone three, which covers large parts of central Sweden including the cities of Stockholm, Uppsala, Västerås and Örebro, the average price for February was under one krona, at 77 öre per kWh, although this was still the highest price since January 2024. Households in Norrland (zones one and two) saw the cheapest prices by far, paying between 13 and 15 öre per kWh in February. There are, however, signs that people in the rest of Sweden can look forward to cheaper prices in the future. Prices have dropped in the last few weeks, due in part to the arrival of warmer spring weather, as well as more water than normal in Swedish reservoirs and lower gas prices elsewhere in Europe. The price of gas is now ten percent lower than at the beginning of the year, and Nordic nuclear power plants are all working at full capacity. And that's not all ‒ the days are getting longer and the sun is getting higher in the sky, which affects both supply and demand. "We're entering a period where usage is falling while solar power is starting to come into play, pushing down prices around lunchtime and into the afternoon, just like last year," analyst Johan Sigvardsson from Bixia electricity company told the TT newswire. Prices on the Nasdaq energy market have also fallen in recent weeks and are showing an average Nordic energy price of 25 öre per kWh for the second quarter of this year. Consumer prices will be higher than that ‒ that figure is excluding energy tax, VAT and the energy network fee, which all add up to over one krona per kWh ‒ and prices in southern Sweden are usually higher still, but it looks like prices will still be significantly lower than they have been so far this year.
Russia Today
12-02-2025
- Business
- Russia Today
Power prices in Baltics nearly double after cut from Russian grid
Electricity prices in the Baltic region have nearly doubled since Estonia, Latvia, and Lithuania disconnected from Russia's electricity transmission grid last week, trading data from Nord Pool showed on Wednesday. The network that the three Baltic states left, called the BRELL Energy Ring, synchronized the grids of Belarus, Russia, Estonia, Latvia, and Lithuania under Moscow's central dispatch. However, several years ago the three EU states pledged to eventually cut their systems off from BRELL, claiming that reliance on a network controlled by Russia jeopardized their energy security. On Sunday, they announced having successfully disconnected from BRELL and synchronized their systems with the European continental power grid. However, according to figures from Nord Pool energy exchange, while the average price of electricity in the Baltics in January was €92 ($95) per megawatt-hour (MWh), it jumped by roughly 25% to €125 euros per MWh following the grid switch. On February 12, the average price of electricity in Latvia, Lithuania and Estonia soared further to €230 euros per MWh, more than doubling from last month's average. Some experts have argued that the price spikes are not attributable to the grid switch, which they portray as merely symbolic, as all three countries had long since stopped buying Russian and Belarusian electricity. Nevertheless, the Baltic nations continued relying on the Russian grid to control frequencies and stabilize networks to avoid outages. READ MORE: Moscow comments on Baltic states' switch from ex-Soviet grid Estonian gas transmission system operator Elering blamed the recent spike in prices on low wind and solar output, higher electricity consumption due to a cold snap and an increase in natural gas prices over the past week. Other experts also noted that the Baltic states are currently lacking some of their regular electricity connections, such as the Estlink 2 cable to Finland and the NordBalt cable connection with Sweden, both of which were damaged late last year. The operator for the Unified Energy System between Russia and Belarus said last week that the withdrawal of the Baltic States from BRELL did not affect its grid, and that the energy system of Kaliningrad Region was secure. The Russian mission to the EU last week warned that the decision by the Baltic nations to disconnect from BRELL would only worsen the economic prospects for the bloc, and said it saw the move as politically motivated. 'Disconnecting from the BRELL... will drive up regional electricity prices, make power grids less reliable, and further erode the EU's economic competitiveness,' the mission said on Telegram on Saturday. Russian Foreign Ministry spokeswoman Maria Zakharova also criticized the move in a statement on Sunday, calling it their 'logical next step in destroying their countries and peoples that once had all the prerequisites for prosperity and independence.'
