In August 2026, the average electricity price in the Latvian bidding area increased to EUR 79,78 per megawatt hour (EUR/MWh), which is 6% more than in July, while compared to August 2025, the price is 1% lower.
Highlights in August :
- In August, the average electricity price in the Baltic states increased by 12,2% to 72,84 EUR/MWh, although it remained 7,98% lower than in August of the previous year. In Latvia, the price increased by 6,44% to 79,78 EUR/MWh, in Lithuania by 5,25% to 79,84 EUR/MWh and in Estonia by 34,03% to 58,88 EUR/MWh;
- Electricity prices across Europe reached their highest level this year, increasing by 18 to 26% compared to July and reaching 120-135 EUR/MWh. The increase was driven by the highest natural gas prices of the past three years, heatwaves across Europe since July, higher electricity demand and lower wind power generation;
- Electricity prices in the Baltic states followed broader European electricity market trends. In both the Baltics and the Nordic countries, prices were additionally affected by drier weather conditions, which worsened the hydrological situation. This reduced hydropower generation potential and the availability of lower-cost electricity in the region;
- In August, renewable energy generation in the Baltics decreased slightly, with wind power generation declining by 9% and solar power generation by 12% compared to July;
- Total electricity imports from EU countries to the Baltics continued the upward trend observed in previous months and increased by 8,7% compared to July, reaching 800 GWh. This was mainly driven by a 45,8% increase in electricity imports from Sweden, reaching 231 GWh. At the same time, imports from Finland decreased by 0,5% to 550 GWh, while imports from Poland fell by 22,7% to 20 GWh;
- No negative electricity prices were observed in the Baltic states in August. However, on 9 August, electricity prices of 0 EUR/MWh were recorded across all Baltic states during several trading intervals;
- Activity in the Latvian Electricity Guarantees of Origin (GO) Register declined significantly in August. Compared to July, the number of issued GOs decreased by 42%, cancelled GOs by 92%, imported GOs by 94%, exported GOs by 36% and GOs transferred within Latvia by 66%. Meanwhile, the number of expired GOs increased by 20%.
Raw data can be downloaded here.
Electricity production and consumption balance in Latvia* :
The information will be published immediately after its available, but no later than 20.03.2024.
Interconnection load and electricity prices
| Bidding area | Average price in August 2026, EUR/MWh | Compared to previous month, % | Average price in August 2025, EUR/MWh | Lowest 15 minute interval price in August 2026, EUR/MWh | Highest 15 minute interval price in August 2026, EUR/MWh | Lowest daily price in August 2026, EUR/MWh | Highest daily price in August 2026, EUR/MWh |
|---|---|---|---|---|---|---|---|
| NPS Finland | 41.26 | 168% | 55.23 | 0.00 | 202.47 | 2.29 | 131.27 |
| NPS Estonia | 58.88 | 34% | 77.26 | 0.00 | 324.44 | 4.64 | 147.55 |
| NPS Latvia | 79.78 | 6% | 80.20 | 0.00 | 341.48 | 9.65 | 179.44 |
| NPS Lithuania | 79.84 | 5% | 80.01 | 0.00 | 341.48 | 9.65 | 179.44 |
| NPS Sweden (SE4) | 72.74 | -7% | 65.61 | 0.00 | 338.74 | 4.06 | 164.34 |
| Poland | 134.42 | 20% | 89.59 | -119.71 | 560.30 | 67.66 | 184.65 |
*Historical data up to 1 October 2025 for periods with negative electricity prices have been mathematically recalculated into 15-minute intervals for comparison purposes.
Price comparison between neighbouring bidding areas
| Comparable bidding areas | 15 minute interval with the same price in August 2026, % | Compared to previous month (percentage points) | Hours with the same price in August 2025, % |
|---|---|---|---|
| NPS FI & EE | 34.6% | -6.8 | 38.0% |
| NPS EE & LV | 54.7% | 5.1 | 75.3% |
| NPS LV & LT | 98.9% | 2.1 | 98.3% |
| NPS LT & SE4 | 15.5% | 7.3 | 6.7% |
Load of the Baltic States interconnections
| Interconnection | Average load in August 2026, % | Compared to previous month (percentage points) | Lowest daily load in August 2026, % | Highest daily load in August 2026, % |
|---|---|---|---|---|
| LV -> LT | 22.3% | -6.8 | 0.7% | 55.3% |
| EE -> LV | 77.4% | 2.5 | 29.5% | 98.3% |
| LT -> LV | 6.4% | -3.5 | 0.0% | 29.1% |
| PL->LT | 0.0% | -21.4 | 0.0% | 0.0% |
| LT->PL | 0.0% | -69.6 | 0.0% | 0.0% |
| SE4->LT | 44.3% | 13.9 | 1.7% | 92.1% |
| FI->EE | 77.3% | 4.2 | 53.2% | 99.7% |
| LV>EE | 1.9% | -5.4 | 0.0% | 15.3% |
| EE>FI | 1.5% | -1.3 | 0.0% | 15.7% |
| LT>SE4 | 17.4% | -7.0 | 0.0% | 47.2% |
Electricity import to the Baltic States [1]
| August 2026, MWh | Compared to previous month, % | August 2025, MWh | |
|---|---|---|---|
| Import from EU countries, including: | 800 228 | 8.7% | 856 779 |
| From Poland | 19 920 | -22.7% | 46 959 |
| From Sweden | 230 659 | 45.8% | 321 185 |
| From Finland | 549 649 | -0.5% | 488 635 |
GUARANTEES OF ORIGIN (GOs)
Statistics of the activity in the Latvia Domain for GOs
| Transaction type | August 2026, MWh | Compared to previous month, % | August 2025, MWh |
|---|---|---|---|
| Issued GOs | 197 190 | -42.3% | 37 481 |
| Cancelled GOs | 14 749 | -91.6% | 16 325 |
| Imported GOs | 4 240 | -94.1% | 18 374 |
| Exported GOs | 176 692 | -36.1% | 165 728 |
| GO Transfers internally | 50 987 | -66.1% | 28 568 |
| Expired GOs | 1 045 | 20.4% | 757 |
BALANCING MARKET IN THE BALTIC STATES
Highest and lowest bid prices
| Estonia | Latvia | Lithuania | ||||
|---|---|---|---|---|---|---|
| Upward | Downward | Upward | Downward | Upward | Downward | |
| Highest mFRR price, EUR/MWh | 3038.2 | 2993.2 | 1599 | 400 | 1434.86 | 250 |
| Lowest mFRR price, EUR/MWh | -7.51 | -568.09 | 4 | -573.25 | 0 | -207.2 |
| Highest aFRR price, EUR/MWh | 909.04 | 281.34 | 1399 | 350 | 563.22 | 134.32 |
| Lowest aFRR price, EUR/MWh | 0.37 | -593.03 | -100 | -499 | 0 | -203.6 |
Total activated energy
| Upward | Downward | |||
|---|---|---|---|---|
| Activated energy in August 2026, MWh | Compared to previous month, % | Activated energy in August 2026, MWh | Compared to previous month, % | |
| Estonia mFRR | 21 814 | 18% | 23 391 | 4% |
| Latvia mFRR | 4 319 | 7% | 5 180 | -30% |
| Lithuania mFRR | 12 038 | 46% | 17 114 | -35% |
| Estonia aFRR | 8 268 | 28% | 8 151 | 55% |
| Latvia aFRR | 5 057 | 37% | 10 676 | -6% |
| Lithuania aFRR | 2 828 | 31% | 3 699 | -19% |
Average 15 minutes standard bid size
| Average 15 minutes standard bid size in August 2026, MW | Compared to previous month, % | 15 minutes with no standard bids in August 2026, % | ||||
|---|---|---|---|---|---|---|
| Upward | Downward | Upward | Downward | Upward | Downward | |
| Estonia mFRR | 256 | 380 | -1% | 0% | 0% | 0% |
| Latvia mFRR | 55 | 66 | 6% | 1% | 0% | 0% |
| Lithuania mFRR | 597 | 411 | 9% | -21% | 0% | 0% |
| Estonia aFRR | 76 | 81 | 34% | 41% | 0% | 0% |
| Latvia aFRR | 86 | 84 | 22% | 14% | 0% | 0% |
| Lithuania aFRR | 73 | 73 | 9% | 3% | 0% | 0% |
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.
[1] Here as electricity imports are commercial transactions.