Baltic Course, Vilnius, 19.01.2016.
A cold spell in Scandinavia has led to an unusual situation on the electricity exchange, with electricity in major part of Nordic countries getting more expensive than in Lithuania, Latvia and Estonia, Lithuania’s power utility Lietuvos Energijos Gamyba (Lithuanian Energy Production) has said, adding that, as a result, the Baltic countries have started selling electricity to Finland, reports LETA/BNS.
Moreover, on weekend electricity was also sold to Poland.
With prices staying high, Lietuvos Energijos Gamyba once again switched on Unit 9 of Lietuvos Elektrine (Lithuanian Power Plant) on Monday.
“Such a situation, when electricity from the Baltic countries is exported to Scandinavia, is really rare. This time it has emerged due to the fact that Finland’s electricity producers are no longer able to meet peak demand at low prices. Hence the Estonians, Latvians and Lithuanians who are working intensively today came to help,” Vidmantas Salietis, CEO of Energijos Tiekimas (Energy Supply), the biggest Lithuanian-owned independent energy supplier that is part of energy group Lietuvos Energija (Lithuanian Energy), said in a press release.
On Saturday, Lithuania sold electricity to Poland. On Monday, 8,200 MW would be exported via the interconnection connecting Estonia and Finland.
On Tuesday, electricity will cost 56.81 euros per megawatt-hour (MW) in Nord Pool Spot’s Lithuanian and Latvian bidding areas. The price in the Estonian bidding area will be 55.99 euros, in the Finnish bidding area – 59.2 euros, in all Swedish bidding areas and in some Norwegian bidding areas – 57.16 euros.
Baltic countries selling electricity to Finland amid spike in prices