Between June 22 and June 28, average wholesale electricity prices on the Nord Pool spot exchange in Lithuania rose by 24%, moving from 81 EUR/MWh to 100 EUR/MWh. During the same period, electricity prices were reported at 97 EUR/MWh in Latvia and 64 EUR/MWh in Estonia. Lithuania experienced notably high solar power generation last week, with solar production accounting for 56% of the country’s total electricity output.
Furthermore, the overall production from solar power facilities saw an increase of 30%. A record momentary solar power output of 1924 MW was achieved on Sunday between 13:00 and 13:15. Despite the substantial solar contribution, wholesale electricity prices across Europe generally increased.
This upward trend was attributed to extremely high air temperatures and increased cooling demands. The effect of the hot weather on electricity pricing was most evident during the evening peak hours. During these times, the output from solar power plants diminished, contributing to the overall price adjustments for electricity across the region.
Topics: #electricity #eur #mwh
