Latvian electricity market overview

In October 2025, the average electricity price in the Latvian bidding area increased to EUR 105,06 per megawatt hour (EUR/MWh), which is 25% more than in September, while compared to October 2024, the price is 15% higher.

Highlights in October :

• In October, the volume of electricity produced and delivered to the grid in Latvia increased by 3% compared to September, reaching 337 gigawatt-hours (GWh), while electricity consumption, driven by cooler weather conditions, rose by 12% to 634 GWh;
• In October, domestic electricity production was able to cover 53,14% of the country’s electricity consumption, which is the lowest level since October of last year;
• Among electricity generated from renewable resources, growth in October was recorded only in biomass plants — up by 48%, while all other types of generation saw declines — solar power plants produced 39% less electricity compared to September, wind power plants 7% less and hydropower plant output decreased by 14% due to lower water inflow. The reduction in renewable output was partially offset by fossil fuel generation — in October, compared to September, electricity production in natural gas power plants increased by 60%;
• In October, the average electricity price in Latvia and Lithuania rose by 25%, reaching 105,06 EUR/MWh. The price increase was mainly driven by seasonal changes — shorter daylight hours reduced the contribution of solar power and power line maintenance work in Estonia limited the import of cheaper electricity into Latvia. As a result, during peak demand hours, the market became more dependent on more expensive generation sources. Due to this maintenance work, electricity prices in Estonia increased less — by only 10% as cheaper electricity imports from Finland could cover peak consumption;
• With the start of the heating season and rising electricity consumption, electricity imports into the Baltic States continued to increase in October, growing by 12,6% compared to September. The fastest growth was observed in electricity imports from Finland, which increased by 37,8%. Electricity imports from Poland rose by 19%, while imports from Sweden decreased by 19%;
• The number of 15-minute intervals with negative electricity prices decreased in the Baltic States — in October, Latvia and Lithuania each had 9 such intervals, while Estonia recorded 45;
• In October, the number of Guarantees of Origin (GOs) issued in the Latvian GO registry increased significantly — by 58% compared to September. Additionally, internal transfers within the registry rose sharply by 455% to 517 601 MWh, the fastest growth among all transaction types. This increase indicates more active GO circulation in the Latvian market, considering that in October 2024 this volume was only 14 683 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. 

** 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.