Lithuania electricity prices nearly double amid low wind production

Electricity prices in Lithuania nearly doubled between October 12 and 18, rising 97 percent to an average wholesale price of 159 EUR per megawatt-hour (MWh). According to Litgrid, the surge was primarily driven by a more than 50 percent drop in wind power generation across the Baltic Sea region.

Local electricity generation in Lithuania fell by one-third, while the need for imports increased by 66 percent. Imports reached 139 GWh, with 58 percent coming from Sweden and 39 percent from Latvia. High prices in neighboring markets also contributed to the increase. In comparison, wholesale prices in Latvia remained at similar levels, while Estonia's average was 120 EUR/MWh.