Power costs in Latvia, Lithuania and Estonia surge to record levels

Electricity prices in the Baltic states continue to rise. In Latvia, the average cost doubled last week, reaching 149.49 euros per megawatt-hour (MWh), Caliber.Az reported, citing Latvian media.

In Lithuania, the average electricity price also increased 2.1 times, reaching 149.49 euros per MWh. In Estonia, the average price climbed to 147.07 euros per MWh, which likewise represents a twofold increase.

Last week, as air temperatures continued to fall, electricity consumption in the Nordic countries and the Baltic states reached its highest level in recent years. Amid strong demand and reduced output from wind and solar power stations, electricity prices rose significantly.

By Tamilla Hasanova