Latvian electricity market overview

In July 2026, the average electricity price in the Latvian bidding area decreased to EUR 74,95 per megawatt hour (EUR/MWh), which is 19% less than in June, while compared to July 2025, the price is 63% higher.

Highlights in July :

• In July,  the volume of electricity produced and delivered to the grid in Latvia decreased by 14% compared to June, to 426 GWh, which was 8% lower than in July 2025. At the same time, electricity consumption increased by 4,7% to 586 GWh, which was 4% higher than in the corresponding period last year;
• Domestic electricity generation was able to cover 72,65% of total national electricity consumption, with the balance of electricity imports and exports remaining negative at 159 GWh;
• Solar power plants retained their position as the largest source of electricity generation in Latvia in July, generating 235 GWh of electricity. As the number of daylight hours decreased, electricity generation from solar power plants in July decreased by 14% compared to June, effectively returning to the level of electricity generation recorded in May this year. At the same time, compared to July last year, electricity generation from solar power plants more than doubled, as the number and capacity of solar power plants in the country have increased significantly;
• Following the substantial decline in June, when wind power generation decreased by 46% compared to May, generation from wind power plants increased by 70% in July to 36 GWh, approaching the May generation level. Electricity generation from hydropower plants decreased by 25% compared to June, to 118 GWh. Changes in other types of generation had an insignificant impact on Latvia's electricity balance;
• In July, the average electricity price in the Baltic states decreased by 22,21% to 64,91 EUR/MWh. In Latvia, the price decreased by 18,74% to 74,95 EUR/MWh, in Lithuania by 19,05% to 75,86 EUR/MWh, while in Estonia it decreased by 31,79% to 43,93 EUR/MWh;
• In Europe, electricity prices in July were as high as in winter due to heat and drought. Thanks to generation from solar and wind power plants, the Baltic states avoided a price shock. In July, the volume of electricity generated locally in the Baltic states reached 83% of consumption, with the majority – 73% of the electricity generated – being provided by solar and wind farms;
• The extreme heat in Europe increased electricity demand from air conditioning and reduced electricity generation from hydropower and nuclear power plants. Natural gas power plants also become less efficient in hot weather. In the Nordic countries, dry weather significantly reduced the amount of water stored in hydropower plant reservoirs below the long-term average. As the war in Iran has affected natural gas supplies from the Middle East, natural gas in Europe was twice as expensive in July as it was this winter, increasing electricity generation costs;
• Due to the high share of electricity generated from renewable energy sources, the Baltic region periodically became a net electricity exporter during daylight hours, delivering electricity to the Nordic countries and Poland, while importing electricity from these regions at other times. In Latvia and Lithuania, electricity prices on average converged with the price level in southern Sweden. In Estonia, the price level was mainly determined by the situation in Finland, where prices were even lower and it was possible to fully utilise extensive import opportunities;
• Total electricity imports from EU countries to the Baltic states increased by 7% in July compared to June, reaching 736 GWh. This increase was mainly driven by a 19,4% increase in imports from Finland, to 552 GWh. Meanwhile, imports from Poland decreased by 17,9% to 26 GWh, while imports from Sweden fell by 18,6% to 158 GWh;
• In July, the number of 15-minute trading intervals with negative electricity prices decreased in the Baltic states. No such intervals were recorded in Latvia, while in Lithuania their number decreased by 72% to 7 intervals, and in Estonia by 16% to 26 intervals. Although the number of intervals with negative prices also decreased in several European bidding zones, it increased in certain markets, including Poland, Belgium, the German and Luxembourg bidding zone, Denmark's DK1 bidding zone and the Netherlands;
• Activity in Latvia's Guarantees of Origin (GO) registry remained high, and the volume of issued GOs continued to grow. In the first six months of 2026, 2,54 TWh of GOs were issued, which is 33,75% more than in the corresponding period in 2025, when 1,90 TWh of GOs were issued. This indicates increasing market activity and the increasingly widespread certification of the origin of renewable electricity in Latvia. Significant growth in activity in the GO registry was also observed in July compared to June. The volume of exported GOs increased the most rapidly, rising almost fourfold, or by 296%, to 276 493 MWh. The volume of imported GOs increased by 52% to 71 922 MWh, the volume of cancelled GOs by 42% to 176 530 MWh, the volume of issued GOs by 37% to 341 475 MWh, while the volume of GOs transferred within Latvia increased by 22% to 150 472 MWh. At the same time, the volume of expired GOs decreased by 63% and amounted to 868 MWh.

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.

** Battery Energy Storage Systems (BESS) are not considered a production type, as they store electricity received from the grid. When this electricity is fed back into the grid, it is included in the total production. As of 1 December 2025, the BESS volume includes the electricity delivered to the grid by AST’s Battery Energy Storage Systems in Rēzekne and Tume, and the electricity received from the grid by AST BESS is included in Latvia’s electricity consumption volume.

** 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

*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

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.