June saw lowest power consumption since 2005 in Latvia

In June, 491 gigawatts of electricity (GWh) were consumed in Latvia, 5% less than in May and 9% less than in June 2022. This is the lowest monthly electricity consumption in Latvia since June 2005, according to an overview of the Latvian electricity market prepared by Latvian transmission system operator Augstsprieguma tīkls (AST).

AST indicates that the decline in consumption is explained by the increasing number of microgeneration and solar power plants, which leads to the use of more electricity produced to cover own consumption before being transferred to the grid and accounting.

196 GWh of electricity was produced in June, 43% less than in May and 30% less than a year ago.

In June, only 40% of electricity consumed in the country was produced locally, which is the lowest since October last year. The amount missing has been imported from neighboring countries.

The largest drop in electricity generation is seen in hydroelectric power plants – by 70% compared with May – and by 61% compared to June 2022.

The reduction is due to lower water flows in rivers following major floods and low rainfall levels in June.

On the other hand, natural gas stations have increased production 172 times, given that they hardly worked in May. Wind power generation has a 35% drop, while the contribution of solar power plants has increased by 19% compared to May.

In June, the average electricity price in Latvia increased to EUR 98.70 per megawatt hour, 27% higher than in May, while the price is 55% lower compared to June 2022.

The average electricity price increased across Europe in June: the highest average electricity price – €118,17 per megawatt hour – was in Poland, while the lowest – €43.37 per megawatt hour – in Finland.

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