Market Price Reduced 13% Due to Operation of NordBalt and LitPol Link

In 2016, the average price for electricity in the Lithuanian bidding area of Nord Pool was the lowest in the history of the exchange: EUR 36.5 per megawatt hour (MWh). The price was 13% lower compared to 2015 and 25% lower than in 2014 and 2013.

In 2016, the availability of LitPol Link was 96%, and that of NordBalt 78% (time per year). The loading of cross-border links connecting Latvia and Estonia, the insufficient capacity of which had influenced the price difference was reduced by one quarter compared to 2015.

November became a historically important month for Nord Pool as the average electricity price in the Lithuanian and Latvian bidding areas was lower than that in Sweden.

After the end of trial operation, LitPol Link disconnected five times and NordBalt six times. Failures in NordBalt’s land cable were recorded two times; other disconnections occurred due to errors in the control and safety systems.

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