Market prices of electricity in Estonia and Latvia are currently lower than in Finland and the overall price in the Nordic energy exchange system Nord Pool Spot (NPS) because of high hydro energy production in Latvia, an analyst said.
Low market price of electricity due to Latvian hydro energy - analyst
26th April 2013, 17:42
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"Due to high water levels, hydro energy production in Latvia is high around the clock and because of that prices are very low in all but peak hours," Power Advisory OU analyst Peeter Stamberg told BNS. "The prices will stay down as long as there is enough water and Latvia cannot regulate hydro energy production, that is, the reservoirs are full."
"The Latvian meteorology center predicts that the water flow rate will start decreasing soon," he added.
The NPS price of electricity for Friday is 39.04 euros per megawatt-hour in bidding area Finland and 40.18 euros in the whole system compared to 33.99 euros in price area Estonia and on the Estonian-Latvian border.