A similar increase was recorded in Lithuania: electricity prices rose by 84%, reaching €123.8 per MWh. In Estonia, the increase was even sharper — the price rose 2.1 times, reaching €93.07 per MWh. The main reason for the surge in wholesale prices in the Baltic and Northern European countries was a significant reduction in electricity production from renewable sources. In the Nord Pool region, solar power generation decreased by 22% over the week, reaching its lowest level since April of this year. Wind energy production fell by 25%, hitting one of the lowest weekly levels this year. In the Baltic countries, wind electricity production decreased by 3% over the week. However, last weekend, due to a strong storm, the situation changed dramatically: wind power generation was almost 50% higher than the previous weekend. At the same time, the reduction in solar generation prevented prices from decreasing significantly.
