Electricity prices surge 50% across Baltic states as ties with Russia severed

Electricity prices in Estonia, Latvia, and Lithuania have surged by 50% within the past month.

Meanwhile, on the energy exchange, the cost of electricity has spiked by a staggering 300%, Caliber.Az reports via Russian media.

The rise in prices follows the Baltic states' decision to sever ties with Russian energy supplies, a move officially enacted on February 8. Just days later, on February 12, electricity prices saw a threefold increase compared to January levels.

In January, the cost of one megawatt-hour was 146 euros, but now it has skyrocketed to 483 euros, a substantial leap that has left many consumers in shock.

On February 9, 2025, Estonia, Latvia, and Lithuania disconnected from the Russian-controlled IPS/UPS power network, marking the end of their last remaining energy links with Moscow. The Baltic nations, which had relied on the Russian grid for stability, have now fully integrated into the European continental power grid, enhancing regional energy security.

Latvian President Edgars Rinkevics hailed the achievement as a victory for freedom and European unity, while EU foreign policy chief Kaja Kallas described it as a symbolic step for the region. This move follows years of planning and comes just days after the Baltic states severed high-voltage transmission lines near the Russian border.

The shift is seen as crucial in the context of heightened regional tensions, with recent disruptions in power and telecom links between the Baltics and Sweden, allegedly caused by anchor-dragging incidents after Russia's invasion of Ukraine. Analysts warn that further damage to these links could spike energy prices in the region.

By Aghakazim Guliyev