Latvian electricity market overview

In March 2025, the average electricity price in the Latvian bidding area decreased to EUR 92,08 per megawatt hour (EUR/MWh), which is 39% less than in February, while compared to March 2024, the price is 35% higher.

Highlights in March :

• In March, the total volume of electricity produced and injected into the grid in Latvia reached 560 GWh, a decrease of 22% compared to February. Meanwhile, electricity consumption amounted to 622 GWh, which is 0,2% less than the previous month. Consequently, domestic electricity production covered 89,99% of Latvia's total electricity consumption;
• Changes were observed in Latvia's electricity production structure in March. The volume of electricity produced and injected into the grid by natural gas power plants dropped significantly by 61%, reaching 165 GWh. At the same time, electricity generation from renewable energy sources increased substantially. Solar power plants experienced the fastest growth, with production rising by 193% to 49 GWh. Wind power generation doubled, reaching 25 GWh, and hydroelectric power plants produced and injected 282 GWh into the grid, marking a 25% increase. As a result, renewable energy sources accounted for 70,53% of the total electricity produced and injected into the grid in Latvia;
• Across the Baltic states, the total volume of electricity produced and injected into the grid reached 1 872 GWh, a 1% increase compared to February. Lithuania showed the most significant growth, with an increase of 26%. In contrast, overall electricity consumption in the Baltic states decreased by 3%;
• Electricity prices in all three Baltic States decreased in March - in Latvia by 39% to 92,08 EUR/MWh, and in Lithuania and Estonia by 40% to 92,07 EUR/MWh and 90,28 EUR/MWh respectively;
• The decrease in electricity prices was mainly driven by warmer weather, which contributed to a reduction in electricity consumption, and an increase in renewable energy production;
• Compared to the previous month, the volume of electricity imported to the Baltic States decreased by 1,8% overall. Electricity imports from Sweden decreased by 7,3%, while imports from Finland increased by 0,4% and from Poland by 51,7%;
• The decrease in imports from Sweden and the sharp increase in electricity prices on 31 March can be explained by the unplanned disconnection of the NordBalt interconnector between the Swedish (SE4) and Lithuania on 29 March. The connection was fully restored on 2 April;
• In 2025, a total of 778 144 GOs were issued in the Latvian Domain for GOs, which is 25% less than in the first three months of 2024.

Raw data can be downloaded here.

Electricity production and consumption balance in Latvia*

* Here and in the following review, the electricity produced is the electricity injected into the grid and the electricity consumed is the electricity received from the grid for consumption.

** Fossil energy source – fossil gas; renewable energy sources – hydro, solar, wind, biogas and biomass.

Balance of the electricity production and consumption in the Baltic States

Interconnection load and electricity prices

Price comparison between neighbouring bidding areas

Load of the Baltic States interconnections

Electricity import to the Baltic States  [5]

GUARANTEES OF ORIGIN (GOs)

Statistics of the activity in the Latvia Domain for GOs

BALANCING MARKET IN THE BALTIC STATES

Imbalance prices in the Baltic States

Highest and lowest bid prices

Total activated energy

Average 15 minutes standard bid size

In case of any doubts, questions or inaccuracies, please contact us at [email protected]. 

The information contained in the Market Overview is provided for informational and educational purposes only. Nothing contained in the Market Overview is to be construed or used as a basis for investment or as a basis for any claims against AST. 

Abbreviations and designations used:

LV - Latvia trade area, LT - Lithuania trade area, EE - Estonia trade area, PL - Poland trade area, FI - Finland trade area, SE4 - Sweden's fourth trade area, AT - Austrian trade area, BE - Belgium trade area, DE-LU - German- Luxembourg trade area, FR - France trade area, NL - the Netherlands trade area, DK1 and DK2 - Danish 1. and 2. trade area.

Load = monthly total commercial flow in kWh / monthly total net transfer capacity in kWh ("Net Transfer Capacity" NTC).

The ENTSO-E Transparency Platform is a central collection and publication of electricity generation, transportation and consumption data and information for the pan-European market.

Guarantee of Origin (GO) is an electronic document, that proves the origin of the generated electricity. GOs are uniquely identifiable, transferable, and therefore tradable and used (by cancellation) to provide information of supplied energy to the end-consumer. One GO = 1 MWh generated and injected into the grid that has an expiration of 12 months after the end of the production period.

* Here and in the following review, the electricity produced is the electricity injected into the grid and the electricity consumed is the electricity received from the grid for consumption.

** Fossil energy source – fossil gas; renewable energy sources – hydro, solar, wind, biogas and biomass.

[1] In Latvia there are 10 distribution system operators – for more information visit https://www.sprk.gov.lv/content/pakalpojumu-sniedzeji-1

[2] Here as electricity imports are not commercial transactions, but electricity that has physically entered the network from other countries.

[3] Here as electricity exports are not commercial transactions, but electricity physically transferred from the network to other countries.

[4] According to the (ENTSO-E) definition, which does not include electrical self consumption.

[5] Here as electricity imports are commercial transactions.