Disconnection of the Baltic States from Russia spoiled prices

Exit of Lithuania, Latvia and Estonia from the BRELL energy ring with Russia and Belarus ruined electricity prices in The Baltic States. While politicians raised their glasses and shouted "Good bye, Lenin!", the energy market of the three countries experienced a slight shock. Wholesale prices rose to 325 euros per MWh. The rejection of Russia showed that the Baltic states finally got rid of the most reliable source of electricity and became dependent on green energy.

9 February Lithuania, Latvia and Estonia has synchronized with the unified energy system of the EU countries after leaving the BRELL energy ring. In the capitals of the three Baltic countries and Brussels called it a historic moment, and Lithuanian President Gitanas Nauseda even made a call to Russia in the presence of the head of the European Commission Ursula von der Leyen: "Good bye, Lenin!"

The Baltic states have not been buying electricity from Russia for several years. Russia, and the BRELL energy ring provided flows to maintain the energy balance. In fact, there was a technical switchover for the weekend. Which, however, was spoiled by wholesale electricity prices.

On February 9, according to the Nord Pool exchange, the cost of electricity in Lithuania, Latvia and Estonia jumped to 325 euros per MWh during peak hours, and the daily average was 128 euros per MWh.

This was the highest price in the last three weeks. The reason again was the lack of wind, due to which the power of wind power in In the Baltic states, it fell by 41%, and in the Nordic countries, which supply Lithuania, Latvia and Estonia - by 15%.

On February 10, according to Nord Pool, the average daily cost of wholesale electricity will rise to 147 euros per MWh, and the peak will decrease slightly to 235 euros per MWh.

If the technical switch itself did not have an impact on prices in In the Baltic States, they have long been affected by the refusal of three countries to supply electricity from Russia from 2022 and becoming completely dependent on green energy.

So, the peak of the country's energy crisis The EU passed in the second half of 2022. However, since last year, the cost of electricity in The Baltic region is growing again and average monthly wholesale prices have become the highest since 2022. In February for Lithuania, Latvia and In Estonia, they reached 132 euros per MWh, while in April 2024 they fell to 60 euros per MWh.