NordPool system price (average price for Nordic and Baltic countries without taking power link capacities into consideration) has never been so high during July. Hour average in July stood at 51,70 EUR/MWh or 0,01 EUR/MWh more than in years 2017 and 2016 combined.

“Such high prices was determined by heat waves and low precipitation level not only in Scandinavia and Baltic countries, but also in whole Europe. I was told, that there has not been lower hydrological balance in Scandinavia in July for at least 20 years” – tells Regimantas Juška, Head of Electricity Business Department at UAB “Imlitex”. “Nuclear production capacities have also been reduced in several countries. Main reason for that was that water in the rivers, which is being used for cooling reactors, is simply too warm. Fuel prices also remain high and that limits chances for fossil fuel generation to produce electricity cheaper. Such reasons at the moment do not allow to expect for lower prices”.

NordPool system price average for Autumn and Winter is evaluated at almost 51,00 EUR/MWh at Nasdaq futures market. Final price in Lithuania/Latvia/Estonia should be higher by at least few euros due to the lack of power links and generation capacities.